Rolling Stone Turns 50 Debt-Free as Wenner Scion Waits in Wings
- HBO said to make documentary for magazine’s golden anniversary
- Wenner Media scraps plans to move to Brooklyn from Manhattan
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Rolling Stone magazine has found something even cooler than the latest indie rock band: freedom from debt.
After selling celebrity-focused Us Weekly magazine last week for $100 million, Rolling Stone owner Wenner Media LLC will be debt-free for the first time in a decade, according to Gus Wenner, who officially runs the company’s online operation. And with the sale of a 49 percent stake in Rolling Stone last year, Wenner now has the funds to invest more in guiding the music and pop-culture icon into the digital age.