Essence Ventures acquired Essence Communications from Time Inc.

Essence Ventures, an independent African-American owned company focused on merging content, community and commerce, acquired Essence Communications, a multi-platform media company, from Time Inc, an American worldwide mass media corporation. Financial terms were not disclosed. Through the Essence Ventures’ investment and resulting incremental growth opportunities, Essence Communications will focus on expanding its digital businesses via distribution partnerships, compelling original content and targeted client-first strategies. In addition, the brand will expand its international growth by planting its rich content ecosystem, including the flagship magazine, digital properties and successful live event franchises, in more global markets with women who have shared interests and aspirations.