Johnson Publishing Company, who brought us Ebony and Jet magazines, filed for bankruptcy Tuesday.
The company sites a "tidal wave of marketplace changes and business issues" as the reason for the filing.
Ebony magazine was founded in 1945 followed by Jet in 1951.
Founder John H. Johnson died in 2005.
Johnson Publishing sold the magazines in 2016 to an African-American private equity firm.
Read more at chicago.suntimes.com.
Lean more about the Johnson Publishing Company's story. Watch the following video narrated by John H. Johnson from the North Carolina Museum: