Jann Wenner is putting Rolling Stone up for sale after 50 years

Rolling Stone is putting itself up for sale
(Image credit: Roslan Rahman/AFP/Getty Images)

If you've ever wanted to own a music-oriented pop culture and politics magazine that helped shape the baby boom generation with long-form gonzo journalism from Hunter S. Thompson and Tom Wolfe, you're in luck: Jann Wenner is putting Rolling Stone on the auction block, The New York Times reports. Wenner and a mentor founded Rolling Stone in San Francisco in 1967, and Wenner has controlled the magazine ever since. His company, Wenner Media, sold off its other two big publications, US Weekly and Men's Journal, to American Media Inc. in recent years, and last year it sold a 49 percent stake in Rolling Stone to a Singapore music-tech company, BandLab Technologies, for $40 million.

Rolling Stone doesn't have the cultural cachet it used to, but its articles can still pack a punch, like the 2010 article that ended Gen. Stanley McChystal's career, the 2009 article by Matt Taibbi that immortalized the image of Goldman Sachs as "a great vampire squid wrapped around the face of humanity," and — to the detriment of Rolling Stone — the retracted 2014 article about a gang-rape at the University of Virginia that cost the magazine dearly in legal settlements and reputation.

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Peter Weber, The Week US

Peter has worked as a news and culture writer and editor at The Week since the site's launch in 2008. He covers politics, world affairs, religion and cultural currents. His journalism career began as a copy editor at a financial newswire and has included editorial positions at The New York Times Magazine, Facts on File, and Oregon State University.