Once a pillar of Black business, founded by John H. Johnson in 1945, the magazine enjoyed decades of popularity before declining advertising revenues and the internet caused it to fall on hard times. In 2016, Ebony and its sister publication Jet was sold to the private equity fund CVG Group, out of Texas. But by 2018, Ebony had to settle an $80K lawsuit with dozens of freelancers who’d never received payment for contributions to the magazine and website, further damaging the brand. Items from the “gift bag” on display at the Ebony Magazine Oscar Party “Hollywood in Harlem” at the Crustacean Restaurant on February 24, 2005 in Beverly Hills, California. (Photo by Frederick M. Brown/Getty Images)