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Johnson Publishing, once chronicled black life in Ebony and Jet, going out of business.

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Johnson Publishing, whose iconic Ebony and Jet magazines chronicled black life in America for decades, has filed for bankruptcy and plans a court-supervised sale of its assets.

The 77-year-old company, which sold Ebony and Jet almost three years ago, on Tuesday filed for Chapter 7 bankruptcy liquidation after it was unable to restructure its operations or arrange financing or a sale.

Read full story @ The Chicago Tribune

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Terrell Owens, Ricky Williams Among Founding Owners of Freedom Football League

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Football fans craving pigskin in the spring will have their answer thanks to a number of former NFL players.

Former NFL running back Ricky Williams announced Thursday on ESPN’s Outside the Lines that he is one of the founders of the Freedom Football League, per Field Yates of ESPN. Williams is joined by fellow founders Terrell Owens, Simeon Rice and Mike Alstott, among others.

The league will play during the spring as to avoid competing against the NFL and collegiate football in the fall.

According to ESPN.com, there will be 10 teams when the league starts—the San Diego Warriors, Oklahoma City Power, Portland Progress, Texas Revolution, Ohio Players, Florida Strong, Birmingham Kings, St. Louis Independence, Connecticut Underground and Oakland Panthers—with the chance for eventual expansion if it succeeds.

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BLACK ENTERPRISE UNVEILS NATION’S LARGEST BLACK-OWNED BUSINESSES FOR 2018

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In many ways, 2017 proved to be both triumphant and bumpy for the nation’s largest black-owned businesses.

Several companies on this year’s BE 100s had robust revenue growth. Others struggled with increased competition, customer retention, and setting themselves apart from larger mainstream rivals. Most still possess resourcefulness, creativity, and other resilient qualities. As such, they have developed the rare entrepreneurial drive to succeed in an uncertain business climate.

There were significant shifts, however: Coca-Cola Beverages Florida L.L.C. became a new billion-dollar revenue addition to the Top 100 rankings. And on the BE BANKS list, OneUnited Bank edged out Carver Federal Savings as the nation’s largest African American banking institution.

To find out the firms that comprise this year’s BE 100s—America’s largest black businesses across industrial/service, automotive and financial services sectors—you will find our series of lists and summaries of their performance here. This article represents a series of reports on how the BE 100s have fared in each industry. Our Annual Report on Black Business begins with a review of the leading black-owned businesses among industrial and service firms.

Read more at Black Enterprise by Jeffrey McKinney

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