Rolling Stone magazine put up for sale
One of the most authoritative editions of music and modern culture, the American magazine Rolling Stone, may be for sale. On plans to sell its controlling stake in the said permanent magazine publisher Jann Wenner, the head of the publishing company, Wenner Media, reports Reuters.
Information this is with reference to the words of Venner also confirms The New York Times. “I love my job, I enjoy her, and enjoy for a long time,” said Venner, adding that to abandon it “would be smart”.
According to the publication, the sales plan was developed by 27-year-old son Venner, Gus. It is associated with the overall strategy of the family of Vengerov on the abandonment of print media competition with online media. Earlier Venneri already sold two other publications — Us Weekly and Men’s Journal. In 2016 they have also implemented and 49% of Rolling Stone, selling their Singapore-based BandLab Technologies. While they retained a controlling stake in the publication.
Jann Wenner and his son plan to stay in publishing as control. At the same time they note that the final decision will be for the new owner. Them, according to The New York Times, can be a tabloid publisher American Media Inc.