Afro-Netizen LLC acquired by KBR for $47.3 million

Many rumors have persisted in recent weeks about Afro-Netizen's ownership and plans for the future.

In an effort to end such speculation, it is with great delight that we announce that of March 31, 2009, Afro-Netizen LLC has been acquired by the U.S. firm KBR for $47.3 million.

KBR is a Houston-based enterprise that was formed as the product of a merger between Brown & Root and the M.W. Kellogg Company, both beacons of American enterprise and staunch supporters of diversity, workers' rights and environmental stewardship.

While Afro-Netizen acknowledges KBR's former ties to Halliburton, its formal separation from this company in the spring of 2007 unequivocally disaggregates its future operations and corporate agenda from its past business affiliations.

In recognizing what for some may appear to be an incongruous alliance, KBR has generously offered to remit 0.10% of after-tax proceeds of select Afro-Netizen-related revenue streams (after 2013) to the KBR Foundation on whose board Afro-Netizen founder and former owner, Chris Rabb, will serve as its first African American director.

Afro-Netizen is honored to be KBR's newest asset under the purview of the firm's Community Relations division, and genuinely believes this move is in the best interests of the Afro-Netizen community.

With KBR's corporate leadership, institutional wisdom, long private sector experience and vast resources will be soundly applied to Afro-Netizen's advancement as a leading Black new media enterprise. With this historic acquisition, we believe our mission to inform, inspire and engage afro-netizens will be unmatched by any other competitor and will put us on a path to maximizing shareholder value, and, as a consequence, furthering social justice itself.

For more details on this historic deal, please click here.

Comments

[Western Dave]

This is a date that will live in history. April 1st. Ha ha.

[Garlin Gilchrist II]

I love this holiday because it leads to great material like this.