'Rolling Stone' magazine is up for sale

Rolling Stone magazine up for sale after 50 years

Rolling Stone magazine up for sale after 50 years

Founded in 1967, Rolling Stone became a fixture of American pop culture, helping launch the careers of writers and creative artists over 50 years.

"There's a level of ambition that we can't achieve alone", he told the Times.

Besides print media diminishing overall, the publication took a brutal beating when it published a botched story three years ago about an unproven gang rape at the University of Virginia. Months earlier, the magazine settled claims in a $3 million defamation case over a lawsuit filed by a U-Va. administrator who was a key figure in the story.

Rolling Stone made its mark in the 1970s and 80s with cutting-edge music and political coverage.

Not long after that the Wenners opted to sell off two other magazine titles, Us Weekly and Men's Journal, both belonging to Rolling Stone's parent company, Wenner Media.

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The Iran nuclear deal moved over to the stage of implementation in January 2016. Secretary of Defense James Mattis, National Security Adviser H.R.

"Publishing is a completely different industry than what it was", he continued. Wenner Media, which sold off a 49 percent stake in Rolling Stone to Singapore-based Bandland Technologies in 2016, announced today it has retained Methuselah Advisors to explore "strategic options for its majority interest in Rolling Stone to best position the brand for future growth".

Jann Wenner's 27-year-old son, Gus, has been serving as COO of Wenner Media. Almost one year ago to the day, Wenner Media sold a 49% stake in the magazine to BandLab Technologies, a Singapore-based social music company. But letting go was "just the smart thing to do", he told the newspaper.

"There is one level of ambition we cannot achieve ourselves, so we are proactive and want to be ahead", Gus Wenner told New York Times on Sunday (17/09/2017). Rolling Stone defined cool, cultivated literary icons and produced star-making covers that were such coveted real estate they inspired a song.

"I think it's time for young people to run it", Wenner says. Rolling Stone also paid out $1.65 million to the Phi Kappa Psi chapter at UVA after the fraternity sued for $25 million.

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