BandLab Technologies Sells Stake in Rolling Stone

SINGAPORE; 31 January 2019 – Today BandLab Technologies has agreed to sell its 49% stake in Rolling Stone to Penske Media Corporation (PMC). BandLab Technologies originally purchased its stake in Rolling Stone for an undisclosed sum on 25 September 2016.

This sale gives PMC full ownership of the magazine, including all event and licensing rights, and the parallel entity Rolling Stone International.

CEO of PMC, Jay Penske, in announcing the news said: “In the 12 months since PMC’s initial investment into this incredible team and legendary brand, the need to consolidate the Rolling Stone business has become abundantly clear and something that BandLab and their leadership team also recognized and were in full support of.

“It’s with their confidence and blessing that we were able to put together a deal that was best for all parties. We continue to have shared goals and will continue to collaborate in the future.”

About BandLab Technologies

BandLab Technologies is a collective of music brands with a vision to connect the world of music. The company integrates the physical, digital and social supply chain, to enable better experiences, opportunities, and connections for all music lovers. Over 7 million creators and fans around the world use BandLab, their flagship digital product, to connect with each other and to create and share their music. Established in 2016, the BandLab Technologies portfolio of brands continues to rapidly expand and diversify.

For more information about BandLab Technologies, please contact press@bandlab.com.