Ebony Gets OK For $14M Ch. 11 Sale To Ex-NBA Player

By Rick Archer (December 22, 2020, 5:32 PM EST) -- A Texas bankruptcy judge Tuesday approved the sale of the bankrupt owner of long-running Black cultural magazines Ebony and Jet to a company owned by a former NBA player for $14 million.

At a brief remote hearing, U.S. Bankruptcy Judge David Jones approved Ebony Media Operations' sale to Bridgeman Sports and Media LLC, noting that the process — which included the removal of Ebony's board after directors struck a deal with a prospective rival bidder — had taken "a turn here and a turn there."

Bridgeman — owned by former NBA player Ulysses "Junior" Bridgeman — submitted a $14 million stalking...

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