The bidding for Rolling Stone magazine is heating up. Last we heard,, about 15 billionaires, media companies and magazine publishers were all circling the iconic music magazine. The latest addition to that long list of bidders interested in acquiring Wenner Media’s 51% stake is Playboy owner Rizvi Traverse the private equity firm. But the new bidder is facing serious competition from two other bidders which are believed to be in a neck and neck battle for the magazine. Azoff MSG Entertainment CEO Irving Azoff is said to have submitted a bid of $30 million meanwhile Eldridge Industries, which owns Billboard, The Hollywood Reporter music websites Vibe and Spin is also said to be anchored in the race with money to spend. In a recent interview, Rolling Stone founder and the man who holds the 51% stake Jann Wenner said that he hopes to still be involved with the magazine after it is sold. But other than the possibility that he will be listed forever in the magazine/website as its Founder and Editor in Chief Emeritus, it is not likely that he will have any active role in the publication after he sells it.
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