Brew News: End of Ebony?

Is the foundation of Black media on the auction block?

Newsweek reports Ebony magazine's backers are looking for a new buyer or investor for the monthly. Ebony is the flagship publication for Johnson Publishing. It's also the oldest magazine covering news and entertainment stories of interest to African Americans. Ebony was launched more than 60 years ago on a $500 loan.

The publisher has contacted Time, Viacom and others to buy Ebony, or form a partnership to run the magazine. But, so far, nothing has happened. Or, at least, nobody's talking publicly.

No word on whether Jet is for sale as well.

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 Or, with the advent of the Internet and the 24-hour news cycle, have Ebony and Jet become outdated?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?