The music magazine Rolling Stone is up for sale

"There are challenges that we can't tackle alone," he said. Wenner founded the magazine in 1967, back then as a student in Berkely, California. Since then, Rolling Stone has not only developed into a magazine for rock music and alternative culture, but also into a haven for experimental authors such as the eccentric writer Hunter Thompson.

However, its image and finances had recently suffered enormously after the magazine reported on an alleged gang rape on a university campus in 2014. An investigation revealed that the magazine had disregarded basic journalistic rules when researching and publishing the article. The rape described by the alleged witness did not take place.

The magazine and one of its reporters later not only had to retract the story and apologize, but also pay three million dollars in compensation for the article. The vice dean of the university in question in Virginia had even demanded 7.5 million dollars in compensation. She had been accused in the article of having covered up the incident out of fear for the good reputation of the elite university.

Part already sold

Last year, Rolling Stone had already sold a 49% stake to the Singapore start-up BandLab Technologies. It is managed by Kuok Meng Ru, the son of the world's largest palm oil trader Kuok Khoon Hong. However, it initially remained unclear whether he intends to increase his stake to a majority.

This year, the Wenner family also sold the celebrity magazine US Weekly and the fashion magazine Men's Journal to the American Media group, which also publishes a number of tabloid titles. It was not initially known whether the company was also interested in the music magazine.

The now 71-year-old founder Wenner emphasized that he hoped to continue to play a role in the magazine. Ultimately, however, this is a decision for the new owner. (SDA/hae)