CHICAGO (AP) — The photo archive of Ebony Magazine that chronicles African American life is to go on the auction block in July if a Chicago bankruptcy court approves.
The collection is being auctioned to pay off secured creditors of Johnson Publishing. The former magazine publisher filed for Chapter 7 bankruptcy protection in April.READ MORE: Chicago Weather: Warming Trend Continues, Rain Chances Persist
Johnson Publishing sold its Ebony and Jet magazines three years ago. The Chicago-based company has tried since 2015 to sell its photo archive.READ MORE: 3 Men Injured In River North Parking Garage Shooting, One Identified In Video As Rapper Lil Reese; Officer's Gun Also Accidentally Discharged
The collection of 4 million images chronicles the civil rights movement and the lives of prominent figures such as Billie Holiday and Muhammad Ali. It was once appraised at $46 million.
The auction would recover money owed secured creditors filmmaker George Lucas and Mellody Hobson, whose Capital V Holdings loaned $12 million to Johnson Publishing.MORE NEWS: At Least 31 People Wounded In Weekend Gun Violence In Chicago, 5 Killed
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