Rolling Stone up for sale

Guardian - Rolling Stone, the 50-year-old music and counterculture magazine, is putting itself up for sale amid an increasingly uncertain outlook, its founder said.

Jann Wenner – who started Rolling Stone in 1967 as a hippie student in Berkeley, California, and now runs it with his son Gus – told the New York Times the future looked tough for a family-run publisher.

The  magazine’s reputation – and finances – were badly damaged when it retracted a 2014 story about an alleged gang rape at the University of Virginia, with a review finding that Rolling Stone did not undertake basic journalistic procedures to verify the facts