Penske Media Shows Interest In Strategic Investment In Wenner Media
Penske Media Corporation (PMC) and Wenner Media recently announced Penske Media’s strategic investment in Wenner Media, majority owner of Rolling Stone, the leading voice of music, politics and pop culture for 50 years.
Since its discovery in 1967 by Jann Wenner and Ralph J. Gleason, Rolling Stone has defined pop culture for generations of readers and is one of the most legendary brands in publishing and music.
Five decades later, Rolling Stone has transform into a multi-platform content brand with unequaled access and authority, reaching over 60 million people per month. In addition, throughout an evolving media landscape, Rolling Stone has always stayed authentic to its mission to tell incredible stories which brighten the culture of our times.
“Our interest in Rolling Stone is driven by its people, its cultural significance, and the globally-recognized brand that has no peer in its areas of influence,” said Penske Media chairman and CEO Jay Penske.
“We believe that Penske Media is uniquely qualified to partner with the Wenners to ensure the brand continues to ascend for decades across multiple media platforms—we’re eager to get started.”
“I am so proud of our accomplishments over the past 50 years and know Penske Media is the ideal match for us to thrive in today’s media landscape,” said Jann Wenner, editorial director of Wenner Media.
“We couldn’t ask for a better partner than Jay and Penske Media to invest in our company’s future success. They understand the importance and impact of Rolling Stone, and we are thrilled for this opportunity to grow our business together,” said Gus Wenner, president and chief operating officer of Wenner Media.
Penske Media has a reputation in acquiring, investing in, and growing content and editorial teams while also growing legendary brands in today’s competitive digital media landscape.
Through the acquisition and turnaround of Fairchild Media — which includes Women’s Wear Daily (WWD), Footwear News (FN), and Beauty Inc — with the evolution of Variety, Robb Report, and IndieWire, Penske Media has constantly demonstrated their ability to successfully grow legendary media businesses while preserving the heritage and culture of each brand.
Penske Media’s calculated investment in Wenner Media puts together a formidable and compromising alliance for Rolling Stone’s dominance in music, politics, entertainment and pop culture.
About Penske Media Corporation
Penske Media Corporation (PMC) is a leading digital media and information services company whose award-winning content attracts a monthly audience of more than 180 million and empowers more than 1 million global CEOs and business thought-leaders in markets that impact the world.
Our dynamic events, data services, and rich content entertain and educate today’s fashion, retail, beauty, entertainment and lifestyle sectors. Headquartered in New York and Los Angeles with additional offices in 11 countries worldwide, Penske Media is the way global influencers are informed, connected, and inspired.
To learn more about PMC and its iconic brands, visit www.pmc.com.
About Wenner Media and Rolling Stone
Wenner Media LLC, a privately held company headquartered in New York City, publishes Rolling Stone. The number one brand in music publishing, Rolling Stone has been the leading voice of music and popular culture for 50 years.
The multi-media brand features the latest in music reviews, in-depth interviews, hard-hitting political commentary and award-winning journalism across many platforms including magazine, digital, mobile, social and event marketing.
Rolling Stone provides “all the news that fits” to a global audience of approximately 60 million fans of the brand every month. Rolling Stone is owned by Wenner Media and BandLab Technologies.