The ’60s rock n roll bible Rolling Stone is now looking for new ownership.

After 50 years as an independent magazine, The New York Times has reported that co-founder Jann Wenner is selling up for the first time. Though Wenner and his son Gus hope to stay on at the magazine after they sell, the decision would be entirely up to the new owners.

It seems that Jann Wenner has felt the pressure of the technological advances in the publishing industry and thinks that “it’s time for young people to run it”. After selling his other magazines under the Wenner Media umbrella, it has become time to sell his original baby.

The magazine was founded in 1967 by Jann Wenner and music critic Ralph J Gleason. It became popular for the reporting on the Hippie counterculture and the political ramblings of Gonzo journalist Hunter S Thompson.

In more recent times the magazine has covered pop culture, politics and movies. Who knows whether a new owner will take a new direction or not… what do you hope for the Rolling Stone? Let us know in the comments below!