Controlling stake in the company Wenner Media, which publishes the legendary Rolling Stone magazine, bought the publishing house Penske Media. This writes The Wall Street Journal.
Market source said that the approximate cost Wenner Media – us $100 million Respectively, a majority of cost the new owner approximately $50 million.
The head of Penske Media Jay said that Rolling Stone is an outstanding publication, and he is confident that he will be able to save the brand.
One of the founders of Rolling Stone Ian Venner said that he was proud of the achievements of the journal for half a century, and the new owner finds the perfect partner in view of the current situation on the market media.
Rolling Stone magazine was founded in 1967 in San Francisco. Considered one of the most influential magazines about culture in the world. In December, the editors publish a list of the best albums and movies of the year.
Earlier it was reported that Wenner Media has sold two magazines – US Weekly and Men’s Journal. In 2016, the company sold a 49% stake in the Rolling Stone a Singapore company BandLab Technologies. The desire to sell a controlling stake Wenner said in September 2017.
Publishing house Penske Media specializiruetsya on publications about fashion, manufacturing, beauty, lifestyle and entertainment. The monthly audience of its publications – 180 million people from 160 countries.