Rolling Stone Magazine Up For Sale

According to a recent article in the New York Times, Rolling Stone Magazine, on the eve of it's 50th anniversary, is up for sale.

71-year-old co-founder Jann Wenner is reportedly relinquishing his hold on the publication he has led since its founding. Wenner admitted that given the current state of the publishing industry, their company’s position isn’t where it needs to be in order to grow the brand the way they’d like.

Wenner’s 27-year-old son, Gus devised the sale. This isn't the first time the Wenners sold off portions of their assets. They sold off the company’s other two magazines, Us Weekly and Men’s Journal. And last year, they sold a 49 percent stake in Rolling Stone to BandLab Technologies, a music technology company based in Singapore.

Both Jann and Gus Wenner, the president and chief operating officer of Wenner Media, said they intended to stay on at Rolling Stone. But they said they also recognized that the decision could ultimately be up to the new owner.

Read the full article courtesy New York Times

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