Rolling Stone magazine up for sale

19 September, 2017, 00:55 | Author: Pamela Mathis
  • 'Rolling Stone' Magazine Founder Jann S. Wenner Selling His Stake

The announcement follows Wenner Media's sale of 49 percent of Rolling Stone to Singapore-based digital music company BandLab Technologies a year ago.

"There's a level of ambition that we can't achieve alone", he told the Times. But in 2014, its reputations and finances got a serious hit when it retracted a story about an alleged gang rape at the University of Virginia.

In June, Rolling Stone reached a $1.65 million settlement with the UVA fraternity that sued the magazine over the way it was depicted in the discredited article.

The Independent noted that Rolling Stone magazine became the counterculture bible for the baby boomers.

One of the few independent print publications, and rarer still, one of the few print magazines still published by the original founder, Rolling Stone has defined and critiqued pop culture in the U.S. for over 50 years.

'Rolling Stone' Magazine Founder Jann S. Wenner Selling His Stake
Rolling Stone magazine to be sold, longtime owner says

"Rolling Stone is a uniquely powerful brand with enormous opportunities to succeed in today's environment", says Gus Wenner, president and chief operating officer of Wenner Media.

"The plan a year ago, when the transaction was announced, was for Kuok to start up Rolling Stone International, which "the partners hope can use the brand to delve into concerts, merchandising and hospitality" in the Pacific region, as Bloomberg's Yoolim Lee reported".

"I love my job, I enjoy it, I've enjoyed it for a long time", the elder Wenner told the New York Times. "But letting go, he added, was 'just the smart thing to do'". This move could leave Rolling Stone out of 71-year-old founder Jann Wenner's hands for the first time in the publication's history.

Last year, the BrandLab Technologies, a young company from Singapore dedicated to the music and founded by the son of the billionaire singaporean Kuok Khoon Hong, has acquired 49 % of the share capital of the flagship magazine.

GotNews' reporting was used throughout the trial against Rolling Stone. Rolling Stone defined cool, cultivated literary icons and produced star-making covers that were such coveted real estate they inspired a song.

Trump's Push to Ax the Iran Nuclear Deal May Alienate Allies
The US is being "unjust" in its approach to the Iranian deal , Khamenei said in an address to police officers in Tehran on Sunday. "It's a deal that should not have ever been made".


Recommended:



Popular

Tropical Storm Lee weakens to a depression
Wind shear was keeping Lee considerably weaker with sustained winds of about 40 miles per hour as it was crossing the Atlantic. East Coast later in the day and advised people from North Carolina to New England to monitor Jose's progress.

Auto plows into crowd at Boise Spectrum, at least 11 injured
The driver then lost control "while going too fast", went up over the sidewalk and onto the grass where onlookers were sitting. A gray Porsche leaving a Boise vehicle show crashed onto a crowded sidewalk, sending at least 11 people to the hospital.

How to Pre-Order the iPhone 8 & iPhone 8 Plus
Its schedule is a bit late compared to the iPhone 8 devices, but Apple promised that it would be worth the wait and money. If you want to enter the recent apps carousel, you perform the swipe-up gesture, but hold it for a second.

Orrin Hatch doubts Trump's corporate tax rate goal is realistic
Another area of concern is "Rothification", which would tax retirement savings upfront instead of when they are withdrawn. Move fast Congress! With Irma and Harvey devastation, Tax Cuts and Tax Reform is needed more than ever before.

Filipino troops rescue kidnapped Catholic priest
He also said Suganob, a vicar general of the prelature of Marawi was taken hostage in an undisclosed location . In a statement, Armed Forces of the Philippines-Public Affairs Office (AFP-PAO) chief Marine Col.

Apple iPhone 8 and the truth behind their prices
The iPhone X looks to have a killer camera, with new upgrades for excellent "bokeh", or blurring in the background of photos. When Samsung has Galaxy 8 and Note 8 in their box an iPhone 7S or 7S Plus wouldn't be equivalent.

Amid array of F1 announcements, McLaren-Honda confirm split
McLaren made a decision to leave his partner, having failed to achieve the goals: regain their domination of the late 1980s. As fellow racers, we hope to see the great name of Honda get back to the top - our sport is better for their involvement.

Three injured as T20 cricket stand caves in at Emirates Riverside
Gayle's boundaries included two sixes in as many balls off left-arm paceman David Willey, a pull followed by a straight drive. Brathwaite, however, bowled Hales for 43 made off just 17 balls, including eight fours and a six.

Britain lowers threat level as Tube explosion case progresses
London police said their investigation into Friday's attack is being supported by MI-5, Britain's domestic intelligence agency. A second man has been arrested by detectives investigating the terrorist attack at Parsons Green station on Friday.

Juggalos set to march on Washington, DC on Saturday
Jason Webber, an organizer of the Juggalo rally, said the group is apolitical but noted that numerous band's songs decry bigotry. Scott Young, another Indiana Juggalo, said he's been pulled over because of the "hatchetman" stickers on his auto .