HollywoodLife is thrilled to welcome Rolling Stone as one of our sister sites at Penske Media, along with Variety, Deadline and Women’s Wear Daily!
Penske Media Corporation (PMC) and Wenner Media today 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 founding 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 iconic brands in publishing and music. Today, five decades later, Rolling Stone has evolved into a multi-platform content brand with unrivaled access and authority, reaching over 60 million people per month. Throughout an evolving media landscape, Rolling Stone has always stayed true to its mission to tell exceptional stories that illuminate 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 proven track record in acquiring, investing in, and growing content and editorial teams while evolving iconic 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 — along with the evolution of Variety, Robb Report, HollywoodLife and IndieWire, Penske Media has continually demonstrated their ability to successfully grow legendary media businesses while preserving the heritage and culture of each brand. Penske Media’s strategic investment in Wenner Media creates a formidable and compelling alliance for Rolling Stone’s dominance in music, politics, entertainment and pop culture.
Penske Media, founded in 2003, is a leading digital media company with significant experience in the entertainment, technology, fashion, retail, and luxury media segments. Having made investments in over
18 industry-leading trade and consumer brands that include Variety, WWD, Robb Report, Deadline, Beauty Inc, FN, IndieWire, BGR, and other leading properties, Penske Media’s digital media expertise and complementary portfolio will be key advantages in propelling Rolling Stone to significant growth, profitability and long-term success.
Tell us, HollywoodLifers — What do YOU think about PMC’s newest addition to the family? Comment below, let us know!