Rolling Stone Magazine Sold To Penske Media

Justin Sullivan/Getty Images Penske Media said late Wednesday it is buying a majority stake in the Rolling Stone magazine. The deal values Rolling Stone at more than $110 million. Rolling Stone co-founder Jann Wenner will assume the role of Editorial Director of the magazine after the completion of the deal. Penske Media said late Wednesday it is buying a majority stake in the Rolling Stone magazine from its New York-based publisher, Wenner Media.