Jann Wenner sells Rolling Stone after 50 years

Jan⛎n Wenner’s 50-year run as owner of Rolling Stone is coming to 💝an end.

Jay Penske, whose media company owns Variety and Women’s Wear Daily, scored a deal Wednesday to buy a controlling stake in the r🎐ock ’n’ roll magazine for roughly $51 million — the last asset owned by the 71-year-old’s once-thriving media company.

Penske’s purchase values the magazine that Wen❀ner started with a partner in 1967 with $7,500 borrowed from family members at $110 million.

As part of the deal, Wenner will be editorial director and join the board of Penske Media Corp. — and keep a 🎃small equity stake. Gus Wenner, Jann’s son, will stay as president and COO of Rolling Stone.

The new owner plans to name a new editor-in-chief, and will keep the title as a consumer print magazine while trying to 🐟expand the brand through live-event programming and licensing.

“Our interest in Rolling Stone is driven by its people, its cultural significance and ♐the globally 🍃recognized brand that has no peer in its areas of influence,” Penske told Deadline Hollywood.

“Like all of our investments, our holding periღod is a very long time. It’s forever,” Penওske added.

“Rolling Stone’s past, present and future is in great storytell⛄ing and that’s where we want to pu﷽t our investment,” Gus Wenner told the Financial Times.

“Jay has shown repeatedly that he has a deep belief in investing in content and investing in the product. This will allow us to do that in a way we🎃 haven’t been able to do over the🅘 last couple of years,” he added.

The Post reported on Dec. 5 that Penske was the leader in an auction for the🌸 storied title. Wenner put the mag on the block in September.

The Wenner stable of magazines has thinned recently, hurt by the tough p🥃rint ad market and some self-inflic🍎ted wounds.

Wenner recen𝓀tly sold off Us Weekly and Men’s Journal to American Media to pare a huge debt load from his purchase of the remaining 50 percent stake in Us fr♕om Disney in 2006.

Then in June, the Rolling Stone name was scarred by a $1.7 million settlement after a 2014 story about an alleged rape on the University of Virginia campus prove൩d to be mostl🎐y false.