Wenner Sells 49% of Rolling Stone to Singapore’s BandLab

Bloomberg: Jann Wenner, the founder of Rolling Stone, is selling 49 percent of the iconic magazine to an Asian billionaire’s son. It’s the first time Wenner has admitted an outside investor, a deal that encapsulates the plight of an industry fighting to stay relevant in an online age. Wenner Media also owns Us Weekly and Men’s Journal.