The founder of Rolling Stone magazine is going to sell his controlling stake

© Fotolia / damarkРедактура magazine. Archival photoThe founder of Rolling Stone magazine is going to sell his controlling stake© Fotolia / damark

Founder and owner of the American magazine about music and modern culture, Rolling Stone Jann Wenner sell a controlling stake, writes the New York Times.

The sale plan was developed by the founder’s son Gus Venner. Due to financial difficulties media company, Wenner Media, including Rolling Stone, has sold magazines US Weekly and Men’s Journal. In addition, in 2016, has sold a 49% stake in the Rolling Stone — company BandLab Technologies.

«I love my job, I enjoy her, I enjoyed her for a long time», — quotes the edition Venner, Sr., who founded the magazine in 1967. He said he is looking for a buyer who understands the mission of the journal and a «lot of money».

The company’s founder and his son have said that they intend to stay and work in the edition but, according to them, the final decision will be made by the new owner. The cost of the potential transaction is not called.

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