For over 50 years, Rolling Stone magazine has been one of the most iconic brands in publishing for music and pop culture news.
Now the publication is up for sale. Wenner Media announced Monday that it has initiated a process to explore strategic options for its majority interest in Rolling Stone to best position the brand for future growth.
Today, the magazine reaches up to 60 million people per month. Over the past three years, the brand's digital traffic has grown nearly 50%, its social media presence has grown over 100% and its monthly video views are up more than 700%.
"Rolling Stone is a uniquely powerful brand with enormous opportunities to succeed in today's environment," said Gus Wenner, president and chief operating officer of Wenner Media. "We have made great strides transforming Rolling Stone into a multi-platform company, and we are thrilled to find the right home to build on our strong foundation and grow the business exponentially."
Methuselah Advisors has been retained as Wenner Media's financial advisor.