It plans to expand the business into new markets and boost its profile in Asia
The Singapore-based BandLab Technologies will buy 49 per cent of Rolling Stone magazine from Wenner Media,
BandLab plans to expand the magazine into new markets and strengthen its profile in Asia where it is not well known, Reuters reported.
Gus Wenner, head of digital of Wenner Media, said, "We see an enormous opportunity to diversify the brand into new markets and new areas of business."
BandLab, is a music company which creates products for music creators and fans.
The companies did not provide financial details of the deal. BandLab is led and co-founded by Kuok Meng Ru, the son of Singaporean palm oil magnet Kuok Khoon Hong.
The magazine has 12 international editions in Australia, Argentina, Brazil, Colombia, France, Germany, India, Indonesia, Italy, Japan, Mexico, and Russia.
(WION with inputs from Reuters)