Rolling Stone, the iconic rock and roll magazine, has a new owner. Jann Wenner, the 71-year-old founder of Rolling Stone, put the title on the market back in September. Wenner Media, the company run by Wenner and his 27-year-old son Gus, had a 51 percent stake in the magazine. One of the three was Jay Penske, owner of Penske Media, a company that publishes Variety, Women's Wear Daily and Robb Report, among others. According to Recode, a business and tech news site, Penske is buying a majority interest in Wenner Media, which effectively gives it control of Rolling Stone.

Source: Forbes December 31, 2017 14:15 UTC