Not even the resurrected rape article lawsuit can turn off potential suitors for the 51% majority stake of Rolling Stone magazine that Wenner Media just dropped on the sale block. According to The Street, Media companies, magazine publishers and about 15 billionaire investors have expressed interest in bidding on the iconic music magazine that is currently celebrating 50 years. Apparently there are about 25 potential suitors ready to sign a non-disclosure agreement so they can get a peak at Rolling Stone’s financials to determine if they want to bid or not. The 51% stake in Rolling Stone currently held by founder/publisher Jann Wenner is expected to fetch about $80 million. The other 49% is owned by Singapore’s BandLab Technologies which is not believed to be interested in buying out Wenner’s stake. When it acquired its 49% stake last year, the goal was to focus on Rolling Stone’s international operations only. But some potential suitors are also looking at the possibility of buying out BandLab’s stake to have full control of the brand without having to deal with an overseas partner. Whether BandLab’s 28 year old chief Meng Ru Kuok, the son of palm oil billionaire Kuok Khoon Hong would be willing to sell is another story. Unless of course someone makes him an offer he can’t say no to.
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