Wenner to Sell 49% of Rolling Stone to Singapore’s BandLab

Rolling Stone

Jan Wenner has sold a 49% stake of Rolling Stone to Bandlab Technlogies. Bloomberg reports:

After a five-decade run full of interviews with pop stars and presidents, the founder of Rolling Stone is selling 49 percent of the iconic magazine to an Asian billionaire’s son. It’s the first time Wenner has admitted an outside investor, a deal that encapsulates the plight of an industry fighting to stay relevant in an online age. Wenner Media LLC also owns Us Weekly and Men’s Journal.