Jann S. Wenner To Sell Controlling Stake In ‘Rolling Stone’

Rolling Stone founder Jann S. Wenner of Wenner Media is selling the company’s controlling stake in the publication, according to a report from The New York Times. Wenner founded Rolling Stone 50 years ago, in 1967. Last year, BandLab Technologies Ltd., a Singapore-based social music company, purchased a 49 percent stake in the Rolling Stone brand, including the magazine and its digital assets. Now, Wenner Media’s controlling stake is up for sale.

The follows two similar moves from Wenner Media, which sold its two other magazines, US Weekly and Men’s Journal.

Both 71-year-old Jann and his son Gus Wenner, 27, the president and chief operating officer of Wenner Media, say they intend to continue at Rolling Stone, but acknowledged the decision could be up to the new owner.