Ahead of its 50th Anniversary, 'Rolling Stone' Magazine is Being Sold

The iconic music mag will soon print its own commemorative cover

Ahead of its 50th anniversary, Rolling Stone magazine, a one-time institution for music journalism, haven to counter-cultural reporters and thinkers, is heading to the auction block.

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According to The New York Times, founder Jann Wenner, claims "there's a level of ambition we can't achieve alone," regarding his decision to put the magazine up for sale, noting the publishing landscape's shift towards visual and digital content, as well as trend-hawking. Wenner, who founded the magazine with Ralph Gleason in 1967, hopes the company goes to a bidder that stands in accord with the magazine's M.O., but most of all, one that has "lots of money." The founding family, now sprawled across the media world (both son, Gus, and ex-wife, Jane, are Warner executives) hopes to remain with the company following its sale, though they'll leave the final call to the winning bidder.

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The announcement arrives in the wake of a 49% stake going to Singapore-based music company, BandLab Technologies, last year.