Statement From Black Enterprise CEO Earl Graves on the Sale of Essence
From Black Enterprise
In selling their controlling interest to Time Warner, CEO Ed Lewis and the shareholders of Essence Communications have made the best deal they felt they could make. It is unfortunate, however, there wasn't an open bidding process in which black entrepreneurs could have made an offer for the company and possibly preserve Essence as a black-owned business and institution. There are a number of black entrepreneurs -- including those who own and operate BE 100s companies -- who had the resources and management capability to acquire and run Essence Communications.