Nearly a half-century ago, in November 1967, Jann Wenner published the first issue of Rolling Stone. Now, 50 years later, the magazine that made superstars, introduced iconoclasts, and helped shape the face of American music is up for grabs. According to the New York Times, Wenner intends to sell his controlling stake in the magazine, in a deal reportedly engineered by his son Gus, the current president of Wenner Media. Jann Wenner currently holds a 51 percent stake in the magazine, while music-technology company BandLab Technologies owns the rest. Wenner Media previously sold their other magazines Us Weekly and Men’s Journal. “I love my job, I enjoy it, I’ve enjoyed it for a long time,” Wenner told the Times, but he admitted that selling Rolling Stone is “just the smart thing to do,” financially speaking. Both Wenners reportedly hope to remain at Rolling Stone, but acknowledge that their involvement will depend on the whims of RS’s potential new owner, whomever that might be.
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