WASHINGTON (dpa-AFX) - Rolling Stone magazine is for sale. Jann Wenner and his son have decided to sell the 51% controlling stake in the 50-year-old iconic publication.
Wenner Media LLC sold a 49% stake in Rolling Stone magazine last year for $40 million, however, the controlling stake could fetch a better price, according to reports.
Peter Kreisky of New York's Kreisky Media Consultancy LLC said the remaining 51% stake in the iconic magazine likely would fetch as much as $80 million, according to Street.com.
Rolling Stone magazine's print and online publication reaches more than 60 million people per month, the company said.
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