The Rolling Stone magazine has a 50-year long history of supporting music and counterculture independently, but this is about to end soon. The owner has announced he wants to make sure the magazine continues growing, so the best decision in the sense was to put it up for sale. He claims this will be only in the interest of the magazine, and will do this to allow it to develop further.
The owner has put Rolling Stone up for sale
Gus Wenner is the current owner of Rolling Stones, and the son of the magazine’s founder, Jan Wenner. He is also the COO and president of Wenner Media, company who used to own Men’s Journal and Us Weekly. However, these magazines have already been sold to American Media.
Wenner declared his company made great efforts to help Rolling Stone grow, and turn it into a multi-platform business. Now, he felt it was time to pass it to someone else, find the best company to nourish the already existent foundation and continue to develop it.
The magazine has been a pillar for rock ‘n’ roll in the ‘60s
Jan Wenner founded Rolling Stone in 1967, which rose in support of the emerging rock ’n’ roll scene. It became the icon of counterculture everyone needed, displaying on its covers all hot artists of the time, including Janis Joplin, The Doors, Bob Dylan and, obviously, The Rolling Stones. Also, the magazine was the home of Lester Bangs, the renowned music critic, or of popular writers like Hunter S. Thompson.
Unfortunately, Rolling Stone’s reputation significantly decreased when it published a fake story about a rape in the campus of University of Virginia. The editors quickly retracted the story and clarified the situation, but it was enough to permanently affect its popularity. Therefore, the best decision seemed to let it resurrect under a different ownership.
In September 2016, Wenner had already sold 49 percent of the magazine to the Singapore company BandLab Technologies. You must have heard of it for the cloud platform it promotes, where artists and fans work together to create the best quality music.
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