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Media investor Jay Penske takes controlling stake in Rolling Stone

He will help revive the financial health of the iconic magazine; founder Jann Wenner gets new role

New York

MEDIA investor Jay Penske on Wednesday announced a stake in Rolling Stone to revive the financial health of the iconic magazine of music and counterculture, with founder Jann Wenner preserving a role.

The investor's Penske Media did not reveal terms of the deal but several...

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