Jeezy sells his stake in Avion to global spirits brand Pernod Ricard.

NEW YORK, New York — Pernod Ricard USA is announced that it has completed the acquisition of the remaining stake in Avión Spirits LLC, owner of the ultra-premium tequila brand Avión, from its joint-venture partner Tequila Avión. Founder Ken Austin and President Jenna Fagnan, along with Grammy Award winner Jeezy, will remain highly involved and…

Drake elevates OVO Brand Partnership with Toronto Raptors

TORONTO, Canada — Drizzy Drake and his OVO Brand continues to grow as he joins forces with his hometown Toronto Raptors for an elevated partnership, which will include charitable contributions and six OVO-themed home games this season. In 2013, he was named the Raptors’ global ambassador and he continues to host an annual “Drake Night”…

ESSENCE returns as a 100% Black-owned Independent Company

NEW YORK — Essence Ventures LLC, an independent African-American owned company announced its acquisition of multi-platform media company Essence Communications Inc. from Time Inc. ESSENCE President Michelle Ebanks will continue at the helm of the company and will also join its board of directors. In addition, the all Black female executive team of ESSENCE, including…

It’s Official! Marijuana Legalized in California on New Year’s Day

CALIFORNIA — Legal recreational marijuana officially became legal in California on Monday, twenty years following its vote to legalize pot for medicinal purposes. However, the legal sale of recreational marijuana is still limited; only about 90 businesses received state licenses to open Monday, with dispensaries concentrated in San Diego, Santa Cruz, the San Francisco Bay…

Charles Barkley Pledges $1 Million To Black Women In Alabama For Startups

ATLANTA, Georgia — TNT’s Inside the NBA analyst, Charles Barkley, announced that he wanted to salute Black women in his home state for getting the job done by helping with the funding off startup companies. The announcement followed the support of getting Democrat Doug Jones elected over Roy Moore in the Senate race Tuesday night….

Former Time Warner CEO Richard Parsons launches new venture capital firm

BROOKLYN, New York — Richard “Dick” Parsons, the former CEO of Time Warner who was declared as one of BLACK ENTERPRISE‘s Most Powerful African Americans in Business in 2010, has partnered with Rachel Lam, a former Time Warner Investments head, to create Imagination Capital. The firm will provide seed funding for 20 to 25 digital…