'Rolling Stone' Magazine To Go Up For Sale
In 2017 Rolling Stone magazine is in the midst of a 50th-anniversary celebration. According to The New York Times. the influential pop culture magazine will be put up for sale.
Founder Jann S. Wenner ,71, has presided over the magazine since its inception in 1967. His son, Gus Wenner, serves as the president and chief operating officer of the magazine's parent company, Wenner Media.
The Wenners recently sold a pair of Wenner Media's other magazines: Us Weekly and Men's Journal. Additionally, in 2016 they also sold a 49 percent stake in Rolling Stone to Singapore-based music tech company BandLab Technologies.
The father-and-son duo say they would like to continue working at the magazine, despite the pending turnover in ownership.
"I love my job, I enjoy it, I’ve enjoyed it for a long time,” said Jann Wenner. "[But this is] just the smart thing to do."
"Publishing is a completely different industry than what it was," added Gus Wenner. "The trends go in one direction, and we are very aware of that."
According to an official press release, the sale is initiating "a process to explore strategic options for its majority interest in Rolling Stone to best position the brand for future growth."