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From a loft in San Francisco in 1967, a 21-year-old named Jann S. Wenner started a magazine that would become the counterculture bible for baby boomers. Rolling Stone defined cool, cultivated literary icons and produced star-making covers that were such coveted real estate they inspired a song.

But the headwinds buffeting the publishing industry, and some costly strategic missteps, have steadily taken a financial toll on Rolling Stone, and a botched story three years ago about an unproven gang rape at the University of Virginia badly bruised the magazine’s journalistic reputation.

And so, after a half-century reign that propelled him into the realm of the rock stars and celebrities who graced his covers, Mr. Wenner is putting his company’s controlling stake in Rolling Stone up for sale, relinquishing his hold on a publication he has led since its founding.

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http://www.msn.com/en-us/news/us/rolling...kt5R&ocid=ientp

Destroyed by its own hubris and I am not sorry to see it go.