“I am so proud of our accomplishments over the past 50 years and know Penske Media is the ideal match for us to thrive in today’s media landscape,” said Wenner in a statement.The transition to the Penske Media platform is expected to occur over the next six months. Penske also bought over other Wenner titles including Men’s Journal, paving the way for the Wenner family.
“Our interest in Rolling Stone is driven by its people, its cultural significance, and the globally-recognized brand that has no peer in its areas of influence. 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—we’re eager to get started.”, said PenskeThe deal comes as the music business where Rolling Stone made its name is undergoing a rejuvenation after years of struggles to adapt to the digital era. Record labels are recovering as streaming platforms like Spotify and Apple Music pave new paths to monetization. While the whole industry is finding their methods to adapt to the digital age, Rolling Stone will follow similarly with this new deal.
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