Rolling Stone Publisher Sells Majority Stake to Penske, Owner of Variety<br />“We believe that Penske Media is uniquely qualified to partner with the Wenners to ensure the brand continues to ascend for decades across multiple media platforms,” Jay Penske, the chairman<br />and chief executive of Penske Media, said in a statement.<br />Penske Media Corporation has acquired a controlling stake in Wenner Media, the publisher<br />of the famed Rolling Stone magazine, the companies announced on Wednesday.<br />“I am so proud of our accomplishments over the past 50 years<br />and know Penske Media is the ideal match for us to thrive in today’s media landscape,” Jann Wenner said in a statement.<br />The companies said Wenner Media would retain “majority control and editorial oversight” of Rolling Stone.<br />Jann S. Wenner, the co-founder of Rolling Stone, will stay on at Wenner Media as its editorial director.
