rolling stone cover

Penske Media, which publishes titles including Variety and Deadline, has acquired a 51 percent stake in Rolling Stone.  Singapore-based BandLabs Technologies retains its 49 percent share of the magazine. Jann Wenner, the magazine’s co-founder, is staying on as editorial director, and Gus Wenner will keep the positions of COO and president as well as becoming a member of Penske’s advisory board. While details of the deal have not been officially disclosed, a report from the Financial Times said that it values Rolling Stone at more than $110 million. Penske Media owner Jay Penske said his goal was to make sure that Rolling Stone “continues to ascend for decades across multiple media platforms.”

Bill DeBlasio
Bill DeBlasio

New York City Mayor Bill DeBlasio says that government-supported media might be one solution to the recent woes hitting journalism, the New York Post reports. “Do I trust the public sector to create fair and responsive media more than a bunch of rich individuals from multinational corporations?,” DeBlasio said in an interview conducted by reporters from the recently shut down websites DNAinfo New York and Gothamist and posted on Medium.com. “Of course.” DeBlasio’s comments follow a piece published last month in the New York Daily News, in which New York City Councilmember Rory Lancman wrote “it’s time for New York City to get back into the business of funding local journalism.” The city was in that business with radio station WNYC until it was sold off in 1995.

Charlie Rose
Charlie Rose

The National Press Club Board of Governors has unanimously voted to rescind the Fourth Estate Lifetime Achievement Award it presented to Charlie Rose in 2014. The award goes to a journalist who “has achieved distinction for a lifetime of contributions to American journalism.” The board concluded the actions described in the charges made against Rose represent neither the values of the National Press Club nor the criteria for the award. In a statement posted on the NPC website, the board reaffirmed its commitment to the right of all journalists to pursue their work free from harassment or discrimination.