Jann Wenner selling Rolling Stone, subject of new book
Though it’s not too surprising considering the state of the media industry, recent scandals, and the fact that he already sold off 49% last year (not to mention the recent sale of Us Weekly), Jann Wenner is now officially selling the rest of Rolling Stone, the iconic music magazine he founded and has always controlled. The NY Times reports:
After a half-century reign that propelled him into the realm of the rock stars and celebrities who graced his covers, Mr. Wenner is putting his company’s controlling stake in Rolling Stone up for sale, relinquishing his hold on a publication he has led since its founding.
Mr. Wenner had long tried to remain an independent publisher in a business favoring size and breadth. But he acknowledged in an interview last week that the magazine he had nurtured would face a difficult, uncertain future on its own.
“I love my job, I enjoy it, I’ve enjoyed it for a long time,” said Mr. Wenner, 71. But letting go, he added, was “just the smart thing to do.”
He also says he hoped “to find a buyer that understood Rolling Stone’s mission and that had “lots of money.”” More at the Times
Meanwhile, the above-pictured book: Sticky Fingers: The Life and Times of Jann Wenner and Rolling Stone Magazine is new and being released on October 24.
