The future of the magazine is still unknown
After 50 years in the hands of its founder Jann Wenner, Rolling Stone magazine is looking for a new owner.
In an interview with The New York Times , Wenner says he loves his job but selling the magazine is "the right thing to do" .
At 71, he works with his 27-year-old son, Gus Wenner. “There’s a level of ambition that we can’t achieve alone ,” he says, “We’re being proactive and getting ahead of the curve. The publishing market is totally different than it used to be. The market trend is going in another direction, and we know it.”
In 2016, the Wenner Media group sold 49% of its shares to a Singaporean music technology company called BandLab Technologies.
The founder seems happy with the change, "I think it's time for young people to take care of the magazine (...) That's what we need to do for the brand to grow."
The father and son wish to remain with the company but admit that the decision is not theirs to make. To date, no public offer has been made to the magazine.
