Ebony and Jet are amongst the well-known magazines that you would find in every African American household. The iconic magazines, which have chronicled the modern African-American experience, will continue to be a “beacon of hope”. Johnson Publishing is selling the magazines to black venture capitalists Clearview Group. The Johnson Publishing Company, and its flagship publication, Ebony Magazine, helped to fashion the black middle-class in America for five decades. For 50 years, from 1958 until 2009, the Ebony Fashion Fair traversed the country. Over its history, the Ebony Fashion Fair changed the lives of those on both sides of the catwalk, and it changed America. A company statement says this week’s sale will allow Johnson Publishing Corporation to reduce its media-related debt and concentrate on its profitable cosmetics division. Whether selling Ebony and Jet will ensure their future survival is up in the air.