With the slogan “Fierce, Fun, and Fabulous” the monthly magazine was established in 1970 under Essence Communications becoming a black-owned publication. The company aimed to be the leading source in black inspired fashion, lifestyle, and beauty featuring woman like Oprah, Maxine Waters, and Kerry Washington just to name a few. In 2005, management shifted as Essence sold their assets to Time Inc which meant operations were then under white ownership until today. A press release went out this morning stating the publication is retained its status as 100% black owned. At an undisclosed price founder of SheaMoisture, Richelieu Dennis has acquired Essence from Time Inc and according to blacenterprise.com he had this to say, ”As importantly, we are excited to be able to return this culturally relevant and historically significant platform to ownership by the people and the consumers whom it serves and offer new opportunities for the women leading the business to also be partners in the business.”