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| | Time Inc. to Acquire Majority of Essence Communications Partners |
 | | Ed Lewis, Chairman & CEO of Essence Communications and Publisher of ESSENCE magazine, said, “Time Inc. has distinguished itself by recognizing the impact of African-Americans on a global scale, and their influence within the cultural landscape. |
 | | After the transaction is completed, as non-executive Chairman and Founder of Essence, Lewis will continue to promote the Essence brand by representing it with advertisers, professional organizations and at industry and advertising events. |
 | | Essence Communications publishes ESSENCE, the preeminent lifestyle magazine that reaches more than seven million African-Americans each month as well as Suede, the fashion and beauty magazine inspired by the young, multicultural, urban fashionista. |
| www.timewarner.com /corp/newsroom/pr/0,20812,1013679,00.html (442 words) |
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