The Press: Black Venture

The birth of a new magazine is always a struggle against the odds, but consider the case of four young black businessmen, none of whom had ever published anything in his life. They were brought together one evening in Harlem 18 months ago at a "black capitalism" meeting sponsored by the Wall Street brokerage firm of Shearson, Hammill. This week the result is on the newsstands: Essence, a stylish monthly magazine for black women.

The idea of a magazine was suggested by Jonathan Blount, then 24 and an ad salesman for the New Jersey...

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