Time Inc. Closes Essence Deal

Share this content:
Time Inc. said yesterday that it completed the previously announced acquisition of the remaining 51 percent of Essence Communications Partners it did not already own.

The acquired company publishes Essence, the nation's No. 1 lifestyle magazine for African-American women. Time Inc., the magazine publishing arm of New York media giant Time Warner Inc. and owner of the Time and People brands, did not disclose terms.

The 138-title Time Inc., which accounts for about one-fourth of all ad revenue generated by U.S. consumer magazines, five years ago bought a 49 percent interest in Essence Communications.

Essence has a monthly circulation of 1,057,000. The magazine claims a readership of 7 million African-Americans monthly. Sister magazine Suede launched in September, covering fashion and beauty. The guaranteed rate base for the new nine-times-a-year title is 250,000 in 2005.

Other components of Essence Communications include the Essence Awards, Essence Books, Essence Music Festival and brand licensing agreements for Essence eyewear and hosiery. Essence Communications was founded 35 years ago.

Mickey Alam Khan covers Internet marketing campaigns and e-commerce, agency news as well as circulation for DM News and DMNews.com. To keep up with the latest developments in these areas, subscribe to our daily and weekly e-mail newsletters by visiting www.dmnews.com/newsletters

Sign up to our newsletters

Company of the Week

Brightcove is the world's leading video platform. The most innovative and respected brands confidently rely on Brightcove to solve their most demanding communication challenges because of the unmatched performance and flexibility of our platform, our global scale and reliability, and our award-winning service. With thousands of customers and an industry-leading suite of cloud video products, Brightcove enables customers to drive compelling business results.

Find out more here »

Career Center

Check out hundreds of exciting professional opportunities available on DMN's Career Center.  
Explore careers in digital marketing, sales, eCommerce, marketing communications, IT, data strategies, and much more. And don't forget to update your resume so employers can contact you privately about job opportunities.

>>Click Here

Relive the 2017 Marketing Hall of Femme

Click the image above