Posted on 09/19/2017 7:15:27 AM PDT by Red Badger
Jann Wenner has landed between a rock and a hard place as he struggles to sell Rolling Stone.
The 71-year-old publishing magnate will pay dearly for clinging to the rock-and-roll magazine he founded 50 years ago, sources told The Post, as prospective buyers have evaporated along with music fans’ habit of buying glossy print titles at newsstands.
“Jann knows he made his mark on American culture already and he is a realist,” said author Joe Hagan, whose biography on Wenner, titled “Sticky Fingers,” is set to hit next month from Random House.
“The landscape has changed and he was not able to navigate through it.”
Time Inc. and Condé Nast are in cutback mode and not interested, with the latter apparently content to operate its Pitchfork music website, insiders say. Hearst, which had held talks to buy Rolling Stone a decade earlier, is also out of the running, according to sources.
American Media, which cut a $100 million deal with Wenner earlier this year to buy Us Weekly, and more recently added Men’s Journal at an undisclosed price, looks unlikely to go to Wenner’s well a third time to buy Rolling Stone, several sources say.
With Old Media shrinking fast, tech titans also have been rumored as possible buyers.
“It would be a very sticky app for someone such as Verizon, Apple or Amazon,” one music and publishing veteran observed. “And for them, the money to buy it would be pocket change.”
Still, Silicon Valley has shown scant interest in venturing into print.
(Excerpt) Read more at nypost.com ...
Headline is appropriate since Wenner plays for the other team these days.
Mark Steyn should offer them a dollar for it. Then, he could turn it into something quite different.
As a magazine it’s a dead business proposition.
I have to imagine though that the brand itself is worth something.
hmmm....
seems to have stopped rolling
will now gather moss....
LOL!..................paging Bob Dylan!...............
The world has so many far left liberal news outlets.
There is no market for another one.
How does it feel to be on your own... :)
Did not know that!...................
All Glory Is Fleeting.
Maybe this gay hater of Trump and us will get lucky and sell this rag for 1$ like the sellers got for NewsWeak.
In these days of internet and ipads, print magazines are a dying product.
Market saturation................
Carlos Slim bought the NYT and Bezos bought the Washington Post to use for political propaganda. One of those liberal pos or someone like Soros will buy it.
Soros probably..................
There is the brand name
And the archival material
If myspace bought it they might be able to reinvigorate their music site traffic.
Damaged goods, I say. The value of the “news” part of the operation should be considered to be nearly zero dollars after the rape hoax article. That makes them more or less an online version of a static museum that has a gift shop, as you guys pointed out.
““And for them, the money to buy it would be pocket change.” “
literally, actually, since one would think it would sell for less than the price paid for Newsweek.
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