Three Bidders Vie for a Majority Stake in Rolling Stone Magazine
The sale price is expected to be at or below $40 million.
Happy Anniversary to me! That’s what Jann Wenner will be saying when he sells his majority stake in Rolling Stone magazine to one of three bidders. In September, Wenner announced he would sell his remaining 51 percent ownership in the 50-year-old, biweekly magazine to the highest bidder. According to Recode’ Peter Kafka, three bidders remain, vying to take over the iconic magazine: Jay Penske of Penske Media Corporation who publishes Variety and Women’s Wear Daily, Bryan Goldberg, co-founder of the Bleacher Reporter and publisher of Bustle, and music executive Irving Azoff.
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