Group Black, co-founded in June 2021 by Richelieu Dennis, Bonin Bough, and Travis Montaque, sought to secure advertising commitments from brands and agencies to channel spending toward Black-owned publishers.

According to Adweek, backed by an initial $75 million investment from GroupM and multimillion-dollar deals with Ziff Davis and NBCUniversal, the collective aimed to raise and distribute funding of $500 million. However, the group is now the center of two lawsuits.

In May 2025, Essence Communications filed a lawsuit against Group Black, which responded with a countersuit in June. These legal actions follow a dismissed October 2024 lawsuit by Essence Communications, alleging that Group Black owed $20 million to its publishers, Essence and Afropunk, and had misused the funds.

Essence Communications is a subsidiary of Dennis’ Sundial Media and Technology Group.

As AFROTECH™ previously reported, Sundial Media Group is a vertically integrated media, technology, and experiential company. In addition to overseeing all aspects of Essence Communications — including Girls United, Essence Studios, the Essence Festival of Culture, and Soko Mrkt — it also became the parent company of Refinery29 after acquiring the brand in 2024.

Adweek reported that the May lawsuit against Group Black alleges the collective owes $7 million in unpaid bills. It also claims that Group Black had sufficient funds to pay Essence and Afropunk but diverted the money to invest in itself and Holler, the messaging service Montaque founded.

In its countersuit, Group Black admits to owing $7 million but claims Dennis agreed in January 2024 to convert the debt into equity. He reportedly reversed course and sued for the money following a fallout in the summer of 2024, when he left Group Black.

The countersuit also states that Group Black did use the equity money to invest in acquiring Holler in December 2023, committing $14.5 million to the messaging platform.

Essence Communications denies agreeing to convert the $7 million debt into equity.

Adding to the complexity, Dennis, a major investor in Holler, was chairman of Group Black’s board when the company allegedly withheld funds from Essence and Afropunk. Montaque — who also resigned in summer 2024 — was CEO of both Group Black and Holler at the time.

Although the messaging platform is no longer active, Group Black still owns Holler’s assets, according to Adweek. Dennis, Montaque, and Bough declined to comment on the lawsuits, the outlet reports.

From Group Black To Group Black Holdings

Bough, now leading Group Black, announced in a Sept. 2, 2025, LinkedIn post that the company has rebranded as Group Black Holdings. He also unveiled Portrait Media Group, an AI-powered media company designed for diverse audiences.

“Portrait Media Group exists to frame the future of media—because values, behaviors, and mindset—not just race or age—are what truly define the modern consumer,” Bough wrote.

“We’re evolving—not abandoning—our foundation,” he added. “With Portrait, we’re expanding our lens from just demographic reach to attitudinal resonance.”

Editorial note: The headline has been updated to include all three co-founders of Group Black, and the year it was founded has been added for clarity.