Rolling Stone Publisher Sells Majority Stake to Penske, Owner of Variety
- 6 years ago
Rolling Stone Publisher Sells Majority Stake to Penske, Owner of Variety
“We believe that Penske Media is uniquely qualified to partner with the Wenners to ensure the brand continues to ascend for decades across multiple media platforms,” Jay Penske, the chairman
and chief executive of Penske Media, said in a statement.
Penske Media Corporation has acquired a controlling stake in Wenner Media, the publisher
of the famed Rolling Stone magazine, the companies announced on Wednesday.
“I am so proud of our accomplishments over the past 50 years
and know Penske Media is the ideal match for us to thrive in today’s media landscape,” Jann Wenner said in a statement.
The companies said Wenner Media would retain “majority control and editorial oversight” of Rolling Stone.
Jann S. Wenner, the co-founder of Rolling Stone, will stay on at Wenner Media as its editorial director.
“We believe that Penske Media is uniquely qualified to partner with the Wenners to ensure the brand continues to ascend for decades across multiple media platforms,” Jay Penske, the chairman
and chief executive of Penske Media, said in a statement.
Penske Media Corporation has acquired a controlling stake in Wenner Media, the publisher
of the famed Rolling Stone magazine, the companies announced on Wednesday.
“I am so proud of our accomplishments over the past 50 years
and know Penske Media is the ideal match for us to thrive in today’s media landscape,” Jann Wenner said in a statement.
The companies said Wenner Media would retain “majority control and editorial oversight” of Rolling Stone.
Jann S. Wenner, the co-founder of Rolling Stone, will stay on at Wenner Media as its editorial director.