Time Inc sells Essence Inc

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Time Inc. is selling Essence Communications Inc. to Essence Ventures LLC, a company launched in 2017 by Shea Moisture founder Richelieu Dennis. 
As a result, the Essence brand has returned to a 100% black-owned independent company, after 12 years of being owned by Time.

The acquisition marks a new beginning for the legacy brand, which has been granted capital and resources to expand its brand overseas.

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