Ebony magazine has been purchased by Ulysses “Junior” Bridgeman, a former Milwaukee Bucks basketball player.
His company, Bridgeman Sports and Media, was the successful bidder for Ebony Media’s assets after the magazine was forced into bankruptcy by creditors in July. Bridgeman believes he can bring the magazine back to profitability with the right ideas and the right execution.
Bridgeman has built a fast-food empire that includes more than 450 Wendy’s, Chili’s, Fazoli’s, Perkin’s, Golden Corral, and Blaze Pizza restaurants. He now runs Heartland Coca-Cola, an independent Coca-Cola bottler with 18 regional distribution centers across the Midwest.
For 75 years Ebony documented Black life in America, printing its first issue in 1945. The iconic Ebony magazine, which also published Jet magazine, sought to address African American issues, personalities. and interests in a positive and self-affirming manner. The magazine was started by John H. Johson, owner of Johnson Publishing in downtown Chicago.