Time Inc. Sells Essence to Black-Owned Independent Venture

Time Inc. has sold Essence Communications — the 50-year-old media brand catering to female African-American audiences — ahead of the closing of its deal to be acquired itself by Meredith Corp. Essence Communications is being acquired by a privately held venture formed by Richelieu Dennis, the founder of hair- and skin-care products maker Sundial Brands. […]

Time Inc. has sold Essence Communications — the 50-year-old media brand catering to female African-American audiences — ahead of the closing of its deal to be acquired itself by Meredith Corp. Essence Communications is being acquired by a privately held venture formed by Richelieu Dennis, the founder of hair- and skin-care products maker Sundial Brands. […]