FIRST AIRED: September 18, 2017

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COMING UP:Share Opener Variant 1

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Transcript

00:00:00
>> Legendary music magazine, Rolling Stone, is looking to sell. Founded by Jann Wenner in 1967, the magazine was an essential read for the countercultural rock scene, and is still the top brand in music publishing. But its parent company, Wenner Media, recently sold its two other magazines, US Weekly and Men's Journal.
00:00:19
Highlighting the struggles of the industry as advertising revenues fall in an increasingly competitive online age. The magazine was also the center of a very messy lawsuit, recently, over a since discredited article on an alleged sexual assault at a University of Virginia fraternity. Rolling Stone retracted the story, was sued for defamation, and had to pay millions in damages.
00:00:41
Wenner telling the New York Times he intends to stay on as publisher, adding, if that's what the new owners want.