Adding insult to injury, the 50 year long Ebony Fashion Fair event was canceled this month. The legendary fashion show had raised more than $50 million in scholarships for students. A lack of sponsors led Johnson Publishing to pull the plug.

Selling Ebony to a non-black company would be a huge blow to the community as a whole, since both Essence magazine and BET are now owned by non-black entities. One source says the company is "in big, big trouble."

So, as African Americans, do we have a responsibility to save Ebony? Is the magazine (along with Jet) still viable in our community? Or, with the advent of the Internet and the 24-hour news cycle, have Ebony and Jet become outdated? Do you even still read either title? Are black media a dying breed? Discuss...

What's your call?