PMC Closes $100 Million Deal With Jann Wenner; Acquires Majority Interest In Rolling Stone Publisher Wenner Media

PMC chief Jay Penske has closed a $100 million deal to acquire a controlling interest in Wenner Media, the parent company of the venerable rock music bible Rolling Stone. Jann Wenner, who founded the magazine in 1967 with Ralph Gleason in San Francisco with a $7,500 loan from family members, will … Read entire story.

Source: Deadline