Wednesday, December 20, 2017

Penske Media Buys Rolling Stone Magazine

Los Angeles-based Penske Media said on Wednesday that it is buying a majority of Rolling Stone magazine. Financial details of the deal were not announced, however, reports say the deal values Rolling Stone at more than $110M. Penske Media is led by Jay Penske. The media firm already owns such titles as Variety, Deadline.com, Robb Report, and other online and print publications. Penske has recently been acquiring brand name, print publications, and adapting their operations to a digital world. Penske Media got its start as Mail.com.

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