Rolling Stone magazine founder Jann S. Wenner is putting his stake in the publication up for sale, <a href=”https://www.nytimes.com/2017/09/17/business/rolling-stone-magazine-sale.html” target=”_blank”>the New York Times</a> reported in a lengthy business profile Sunday (Sept. 17).
Wenner has led the magazine since starting it in 1967. Now 71 years old, Wenner told the magazine that while he loves what he does, letting go is “just the smart thing to do.”
Wenner and his son Gus, 27, recently sold Wenner Media’s other two magazines: Us Weekly and Men’s Journal. As reported by the Times, they also sold a 49 percent stake in Rolling Stone last year to a Singapore-based music tech company called BandLab Technologies.
Both father and son said they would like to continue working at the magazine, but acknowledged that decision would be up to the new owner.