Rolling Stone, the iconic 50-year-old magazine of music and counterculture, is putting itself up for sale amid an increasingly uncertain outlook, its founder said.
Jann Wenner — who started Rolling Stone in 1967 as a hippie student in Berkeley, California and now runs it with his son Gus — told The New York Times that the future looked tough for a family-run publisher.
"There's a level of ambition that we can't achieve alone," Gus Wenner told the newspaper in an interview published late Sunday.
"So we are being proactive and want to get ahead of the curve," he said.
One of the most influential magazines covering rock music, Rolling Stone has also been a home for experimental writers such as the gonzo journalist Hunter S. Thompson.
But the magazine's reputation — and finances — were badly damaged when it retracted a 2014 story about an alleged gang rape at the University of Virginia, with a review finding that Rolling Stone did not undertake basic journalistic procedures to verify the facts.
_________________
Read more:
Look what you made us do: Taylor Swift's 5 most vengeful songs
Does the release of Neil Young’s full back catalogue represent a fresh model for musicians?
Why Rumi was the perfect baby name for Beyoncé and Jay-Z
_________________
Rolling Stone last year sold a 49 per cent stake to a Singaporean music and technology start-up, BandLab Technologies, which is headed by Kuok Meng Ru, the scion of one of Asia's richest families.
It was not immediately known if Kuok would want to take a controlling stake in Rolling Stone.
The Wenner family earlier this year sold its other two titles — celebrity magazine US Weekly and lifestyle monthly Men's Journal — to American Media, Inc., a publisher of supermarket tabloids including The National Enquirer.
If American Media, Inc., were interested in Rolling Stone, it would mark a sharp change in owners' ideologies.
The tabloid empire is led by David Pecker, an ardent ally of US president Donald Trump, while Rolling Stone tilts strongly to the left and has featured lengthy interviews with Democratic presidents Barack Obama and Bill Clinton.
Jann Wenner, 71, who is also a key force behind the Rock and Roll Hall of Fame, said that he hoped to keep an editorial role at Rolling Stone but that the decision would be up to its new owner.
more from Janine di Giovanni
The specs: 2017 Lotus Evora Sport 410
Price, base / as tested Dh395,000 / Dh420,000
Engine 3.5L V6
Transmission Six-speed manual
Power 410hp @ 7,000rpm
Torque 420Nm @ 3,500rpm
Fuel economy, combined 9.7L / 100km
More from Neighbourhood Watch
The%20US%20Congress%2C%20explained
%3Cp%3E-%20US%20Congress%20is%20divided%20into%20two%20chambers%3A%20the%20House%20of%20Representatives%20and%20Senate%3C%2Fp%3E%0A%3Cp%3E-%20435%20members%20make%20up%20the%20House%2C%20and%20100%20in%20the%20Senate%3C%2Fp%3E%0A%3Cp%3E-%20A%20party%20needs%20control%20of%20218%20seats%20to%20have%20a%20majority%20in%20the%20House%3C%2Fp%3E%0A%3Cp%3E-%20In%20the%20Senate%2C%20a%20party%20needs%20to%20hold%2051%20seats%20for%20control%3C%2Fp%3E%0A%3Cp%3E-%20In%20the%20event%20of%20a%2050-50%20split%2C%20the%20vice%20president's%20party%20retains%20power%20in%20the%20Senate%3C%2Fp%3E%0A
PREMIER LEAGUE FIXTURES
All kick-off times UAE ( 4 GMT)
Saturday
Liverpool v Manchester United - 3.30pm
Burnley v West Ham United - 6pm
Crystal Palace v Chelsea - 6pm
Manchester City v Stoke City - 6pm
Swansea City v Huddersfield Town - 6pm
Tottenham Hotspur v Bournemouth - 6pm
Watford v Arsenal - 8.30pm
Sunday
Brighton and Hove Albion v Everton - 4.30pm
Southampton v Newcastle United - 7pm
Monday
Leicester City v West Bromwich Albion - 11pm
Labour dispute
The insured employee may still file an ILOE claim even if a labour dispute is ongoing post termination, but the insurer may suspend or reject payment, until the courts resolve the dispute, especially if the reason for termination is contested. The outcome of the labour court proceedings can directly affect eligibility.
- Abdullah Ishnaneh, Partner, BSA Law
Specs
Engine: 51.5kW electric motor
Range: 400km
Power: 134bhp
Torque: 175Nm
Price: From Dh98,800
Available: Now
MOUNTAINHEAD REVIEW
Starring: Ramy Youssef, Steve Carell, Jason Schwartzman
Director: Jesse Armstrong
Rating: 3.5/5
Sole survivors
- Cecelia Crocker was on board Northwest Airlines Flight 255 in 1987 when it crashed in Detroit, killing 154 people, including her parents and brother. The plane had hit a light pole on take off
- George Lamson Jr, from Minnesota, was on a Galaxy Airlines flight that crashed in Reno in 1985, killing 68 people. His entire seat was launched out of the plane
- Bahia Bakari, then 12, survived when a Yemenia Airways flight crashed near the Comoros in 2009, killing 152. She was found clinging to wreckage after floating in the ocean for 13 hours.
- Jim Polehinke was the co-pilot and sole survivor of a 2006 Comair flight that crashed in Lexington, Kentucky, killing 49.