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Former NBA Player, Ulysses 'Junior' Bridgeman Wins $14M Bid For Bankrupt Ebony Media

Former NBA player Ulysses “Junior” Bridgeman is putting his money where his mouth is as he recently won a $14 million bid for Ebony Media Operations LLC. According to the Chicago Tribune, Bridgeman Sports and Media, the company owned by the retired Milwaukee Bucks forward, emerged as the winner for Ebony Media’s assets by a bankruptcy court in Houston on Friday (Dec. 18). The legacy Black media company was forced into Chapter 7 bankruptcy in July after defaulting on more than $10 million in loans per its creditors. In September, the bankruptcy was converted to a voluntary Chapter 11 reorganization. Bridgeman, 67, says that despite the recent financial troubles Ebony has been experiencing, he believes that he can return it to profitability with “the right ideas and the right execution.” For Bridgeman, he says that it’s most important that Ebony returns to a place of prominence in American culture. In 1945, the magazine was launched by Chicago-based Johnson Publishing as an...

Shanique Yates

Dec 28, 2020