Culture

US Rolling Stone Magazine To Be Put Up For Sale

US Rolling Stone Magazine To Be Put Up For Sale”

Since its inception, Rolling Stone has defined pop culture for generations of readers, and is one of the most iconic brands in publishing and music. The company's other magazines, Us Weekly and Men's Journal, were sold recently to American Media Inc., helmed by publisher David J. Pecker.

Of course, Rolling Stone has been whittled down to nothing after its heyday in the Sixties, Seventies, and Eighties.

Erdely's Rolling Stone article about Coakley's three-hour long gang rape on top of broken glass at a fraternity party sparked a national uproar. Last year, Wenner Media sold a 48% stake to Singapore's BandLab Technologies Ltd. Wenner has hired bankers to explore a sale, the Times reported, but no potential buyers have emerged yet. But apparently that cash infusion was not enough to save the magazine.

More news: Nicole Kidman rocks the Emmys with racy red dress

Wenner has led the magazine since starting it in 1967.

It will be interesting to see if Wenner can keep his strangehold on the Rock and Roll Hall of Foundation now. The article prompted three libel lawsuits against Rolling Stone, one of which led to a highly publicized trial a year ago that culminated with a federal jury awarding the plaintiff $3 million in damages.

GotNews' reporting was used throughout the trial against Rolling Stone.



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