Investor takes stake in Rolling Stone, keeping on owner
Investor takes stake in Rolling Stone, keeping on owner
New York - Egypt Today
Media investor Jay Penske on Wednesday announced a stake in Rolling Stone to revive the financial health of the iconic magazine of music and counterculture, with founder Jann Wenner preserving a role.
The investor's Penske Media Corp. did not reveal terms of the deal but several media outlets including Variety, one of his titles, said the media company was spending $100 million for a controling stake.
BandLab Technologies, a Singaporean start-up headed by Kuok Meng Ru, the scion of one of Asia's richest families, will keep its 49 percent stake in Rolling Stone bought last year, Penske said.
Wenner launched Rolling Stone in 1967 through a family loan when he was a hippie student in Berkeley, California. Within years he turned the magazine into a bible of rock music coverage and a platform for left-wing politics and experimental journalism by writers such as gonzo reporter Hunter S. Thompson.
GMT 08:11 2018 Friday ,28 September
US regulator sues Musk for fraud, seek to remove him from TeslaGMT 06:59 2018 Thursday ,18 January
Dow posts first close above 26,000 amid Wall Street recordsGMT 10:55 2017 Thursday ,21 December
Stock markets down, US tax cuts head for Trump's deskGMT 14:07 2017 Tuesday ,19 December
2017: The year the bitcoin craze reached Wall StreetGMT 08:33 2017 Sunday ,17 December
End of an era: Boeing 747 takes last US commercial flightRussia tests new telemetry system during manned Soyuz MS-11 spacecraft’s launch
Moscow - TASS
The Astra-06 apparatus developed by specialists of Russian Space Systems (RSS) was used for the first time as additional telemetric equipment aboard the manned Soyuz MS-11 spacecraft launc...Read More
GMT 13:38 2011 Tuesday ,12 April
Microsoft, Google tussle over
GMT 18:00 2017 Tuesday ,18 July
Eleven policemen killed, wounded in clashes with Taliban
GMT 15:06 2017 Wednesday ,20 September
Nasr, US investors confer on joint business opportunitiesGMT 03:57 2012 Friday ,13 April
\'Don\'t Trust the B -- in Apartment 23\'
GMT 13:53 2017 Wednesday ,03 May
This weekend, meet 3 funny men in Dubai
GMT 14:23 2018 Friday ,14 December
China to suspend US car tariffs in sign of easing trade tension
GMT 15:24 2014 Thursday ,23 January
Sultan settles 456 debt cases in Sharjah
GMT 00:05 2017 Sunday ,30 April
Multiple warehouses burnt down in Beita village
GMT 22:48 2017 Wednesday ,08 March
Statue of Amenhotep III, 66 of goddess Sekhmet unearthed in Luxor
GMT 12:33 2011 Thursday ,06 October
Belfast software company to create 80 jobsGMT 00:07 2011 Monday ,05 December
Veteran ukulele player Bill Tapia dies, aged 103GMT 11:05 2012 Wednesday ,22 February
Hip hangouts: Charice and moreGMT 16:40 2011 Saturday ,10 September
Alshaya to launch first Texas RoadhouseGMT 15:00 2011 Monday ,04 July
Bahrain\'s Interior Ministry\'s Spokesman holds a press conference
GMT 10:18 2017 Thursday ,09 November
Kirkuk archbishop urges ‘Marshall Plan’
GMT 11:23 2017 Sunday ,13 August
41 fugitives arrested in N. Sinai
GMT 13:29 2017 Tuesday ,25 April
Culture Ministry:Night of Museums across Lebanon
GMT 20:01 2018 Monday ,08 January
King Salman to hold talks with Malaysian premier today
GMT 09:11 2017 Friday ,04 August
Anderson ousts top-seed Thiem as Nishikori advances
GMT 11:21 2016 Friday ,13 May
Frida Kahlo painting sells at auction for record $8m
GMT 14:29 2016 Thursday ,01 December
The SR100 styling challenge: Are you game for it
GMT 13:42 2017 Saturday ,14 October
Nigerian pop music: in the shadow of Fela Kuti
GMT 20:02 2017 Saturday ,08 April
Sabira Lahmar presents her latest designs in Dubai
GMT 11:46 2017 Tuesday ,19 December
5 beautiful Arab cities you should visit
GMT 07:05 2017 Saturday ,16 December
Civil plane crashes in Fayyoum;crew killed
GMT 18:36 2017 Thursday ,13 April
Doha Municipality Celebrates GCC Food Day
GMT 14:09 2014 Monday ,10 March
Egyptian presidential candidates will need 25,000 signatures
GMT 02:56 2015 Thursday ,11 June
Mohamed bin Zayed, al-Sisi discuss bilateral ties
GMT 06:04 2013 Wednesday ,12 June
2-headed piglet found buried in backyard
GMT 18:10 2018 Wednesday ,05 December
Belgian government mired in crisis over UN migration compact
GMT 08:51 2018 Wednesday ,24 October
Juventus too good for Man Utd on Ronaldo’s return
Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2025 ©
Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2025 ©
Send your comments
Your comment as a visitor