Fifty-Year-Old Rock Mag Rolling Stone Put Up For Sale By Original Owner

Fifty-Year-Old Rock Mag Rolling Stone Put Up For Sale By Original Owner

Wenner Media, the company founded by publisher Jann Wenner, is selling its 49 per cent controlling stake in the iconic music magazine Rolling Stone, citing a desire “to best position the brand for future growth.”

Wenner, of course, started the magazine back in 1967 as a 21-year-old hippy student and has had a controlling stake in the business ever since.

However, in 2016 he sold 49 per cent of Rolling Stone to the Singapore-based digital music business BandLab Technologies. It’s believed the brand has been struggling financially for some time as music tastes change and readers go online.

According to the magazine’s Wikipedia site there are 21 international editions, including an Australian edition published by small independent publisher Paper Riot. The Australian license is believed to be the longest ongoing of all the international licenses, having launched way back in 1972.

In a media statement yesterday, Gus Wenner, president and chief operating officer of Wenner Media and Jann Wenner’s son, said: “Rolling Stone is a uniquely powerful brand with enormous opportunities to succeed in today’s environment.

“We have made great strides transforming Rolling Stone into a multi-platform company, and we are thrilled to find the right home to build on our strong foundation and grow the business exponentially.”




Please login with linkedin to comment

Rolling Stone

Latest News

Revium Snags Peter Bauld From Deloitte Digital
  • Advertising

Revium Snags Peter Bauld From Deloitte Digital

Revium, a leading full-service digital and AI consultancy, has announced the appointment of Peter Bauld (lead image) as Executive General Manager. Revium is a full-service digital and AI consultancy with over 20 years of experience creating engaging digital experiences for leading organisations and their customers. Bauld joins Revium after an illustrious career spanning over two […]

Veridooh Snatches Prashand Menon From ScentreGroup
  • Advertising

Veridooh Snatches Prashand Menon From ScentreGroup

Out-of-home OOH) and digital media leader Prashand Menon (lead image) has joined OOH ad tech company Veridooh as group business director within NSW and QLD. Menon joins Veridooh from his most recent role as ScentreGroup’s group business director and brings with him more than 10 years of experience in Australian media. Previously, he held positions […]

Kat & Co Transforms Into THE WORLD OF Experiential Agency
  • Advertising

Kat & Co Transforms Into THE WORLD OF Experiential Agency

After more than twelve years of producing experiences for some of the world’s most innovative brands, including Hermes, Van Cleef & Arpels, Louis Vuitton, and Tiffany & Co, Kat & Co has quietly metamorphosed into THE WORLD OF. THE WORLD OF is an experiential agency at the juncture of culture, technology and the human condition. […]

SMG Studio Launches Risk: Global Domination X Dune Part Two
  • Campaigns

SMG Studio Launches Risk: Global Domination X Dune Part Two

Through a licensing agreement with Legendary Entertainment, SMG Studio inked the rights to adapt Dune: Part Two into a game based on Risk: Global Domination, Hasbro’s interactive board game. Inspired by Denis Villeneuve’s cinematic masterpiece, Dune: Part Two, this new digital adaptation, RISK: Global Domination X Dune: Part Two, is poised to captivate players from […]

QMS: Taylor Swift, Lunar New Year & Mardi Gras Were Boon For OOH Market
  • Marketing

QMS: Taylor Swift, Lunar New Year & Mardi Gras Were Boon For OOH Market

Taylor Swift, Lunar New Year and the Sydney Gay and Lesbian Mardi Gras Festival have had a dramatic impact on the number of people moving in and around Sydney over the past month, drawing big crowds into the heart of the city and its surrounding suburbs. New data from digital outdoor company QMS reveals a […]