Rolling On To New Owners
One of the most recognized names in North American publishing would have to be Rolling Stones Magazine. After nearly 50 years of their contribution, both positive and negative depending on who you talk to, they are being sold to the highest buyer.
The owners of the renowned Rolling Stone Magazine have announced that they ready to sell their remaining shares in the magazine. After a decade of debt and a decline in print media sales, the father and son team have decided to wash their hands clean of the publication. Founder and publisher Jann Wenner and his son Gus Wenner are looking for a buyer for the magazine that has deep pockets and share the same passion for music, television, and culture.
It’s not too difficult to see why they are doing this, after a few wrong turns and millions of dollars lost over the last decade it makes perfect sense from an economic standpoint. One example of that is when Rolling Stone published a completely false story about a gang rape at the University Of Virginia which was challenged in court and the magazine had to pay $3 million in damages.