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A Large Stake in Rolling Stone Is Being Sold to This Singaporean Company

A Large Stake in Rolling Stone Is Being Sold to This Singaporean Company

Singapore’s BandLab Technologies will buy 49% of Rolling Stone repository from publisher Wenner Media and skeleton to enhance a business into new markets and boost a form in Asia, a dual companies pronounced in a statement.

The merger could lift a song magazine’s code in Asia, where a name does not go as far. It also highlights a struggles of a edition attention as promotion revenues tumble in an increasingly rival online age.

BandLab, led and co-founded by Kuok Meng Ru, a 28-year-old son of Singaporean palm oil aristocrat Kuok Khoon Hong, is a organisation of companies creation products for song creators and fans.

The matter gave no financial sum of a deal.

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“We see an huge event to variegate a code into new markets and new areas of business,” Gus Wenner, conduct of digital of Wenner Media, pronounced in a statement.

Rolling Stone publishes 12 general editions in Australia, Argentina, Brazil, Colombia, France, Germany, India, Indonesia, Italy, Japan, Mexico and Russia, and says it reaches an assembly of over 65 million people.

For some-more on a media industry, watch Fortune’s video:

The repository is also famous for irritable stating typified by correspondents like Matt Taibbi, who skewered Wall Street titans during a tellurian financial crisis, and a late Hunter S. Thompson, begetter of a gonzo character of first-person journalism.

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