Penske Media gains full control of Rolling Stone
PMC buys up BandLab 49% share to take complete control of iconic Rolling Stone brand, events and licensing
News By | 1 February 2019
Jay Penske, chairman and chief executive of Penske Media Corporation (PMC), has purchased the remaining 49% of Rolling Stone, following a majority takeover in 2017. The media and publishing entrepreneur now has complete ownership of the music brand, bringing to an end founder Jann Wenner’s 50 year ownership.
PMC bought up 51% of the magazine in December 2017, purchasing the rest from minority owner BandLab Technologies on 22 January. BandLab bought up the $40 million share in September 2016, overseeing an international…
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