In the end, Jann Wenner was always going to sell Rolling Stone. The current timing is certainly unprompted and a bit of a surprise — Wenner, along with his son Gus, the president and chief operating officer of Wenner Media, announced this week the magazine is now open for bids — but there had been indications in recent years that the once groundbreaking magazine would soon be top edited by someone other than Wenner.
Wenner has passed on opportunities to sell Rolling Stone in the past, including an offer of $500 million that he turned down two decades ago. But in 2017, the timing was too good to pass up. This year is the 50th anniversary of Rolling Stone‘s founding, and not only is the occasion being marked with an HBO documentary co-directed by Alex Gibney, Knopf is publishing the first major Wenner biography this fall, written by Joe Hagan. (Full disclosure: I fact-checked the book.)