Rolling Stone is up for sale. Jann Wenner’s last magazine is going on the block following sales of US Magazine and Men’s Journal to American Media.
Of course, Rolling Stone has been whittled down to nothing after its heyday in the Sixties, Seventies, and Eighties. Mostly out of touch, Rolling Stone stopped representing any generation a long time ago. But once, a long time ago, it was so important.
Wenner Media has been pretty much destroyed by lawsuits following its disastrous University of Virginia rape story– a rape that never happened and a story that tainted many innocent people.
Last year sold off 49% of Rolling Stone to BandLab, a tech company. But apparently that cash infusion was not enough to save the magazine. The New York Times first reported the story tonight.
It will be interesting to see if Wenner can keep his strangehold on the Rock and Roll Hall of Foundation now. He’s used his influence with Rolling Stone to get friends in and keep enemies out. Much of the nominating committee comes from Rolling Stone. Now what?