New Owners
Sengstacke Enterprises Inc., publisher of the Chronicle and the daily Defender, would later also include the New Pittsburgh Courier and the Tri-State Defender in Tennessee. When Sengstacke died in 1997, the Chronicle was described as his most profitable newspaper, "fat with local and national advertising", with a weekly circulation of 43,582. Inheritance tax bills and provisions in Sengstacke's will made it likely that the chain would be sold, but it was administered by a trust in the interim.
Amid the uncertainty over the Chronicle's ownership, longtime publisher Sam Logan left the paper in 2000 and in May of that year formed a competing weekly, The Michigan FrontPage, which he envisioned as "a weekend read", published on Fridays.
The Chronicle and its sister papers were finally sold in 2003, to Real Times Inc., a group of African-American business leaders from Chicago and Detroit. Logan returned as publisher of both the Chronicle and the FrontPage, which became part of the group.
Logan died in late December 2011. Hiram Jackson, president of Real Times Inc., was appointed interim publisher in his place.
Read more about this topic: Michigan Chronicle
Famous quotes containing the word owners:
“You are the majority—in number and intelligence; therefore you are the force—which is justice. Some are scholars, others are owners; a glorious day will come when the scholars will be owners and the owners scholars. Then your power will be complete, and no man will protest against it.”
—Charles Baudelaire (1821–1867)
“Slaves who have escaped to you from their owners shall not be given back to them.”
—Bible: Hebrew, Deuteronomy 23:15.