NEW YORK, NY -- Sorry rock fans, looks like Rolling Stone is rolling on out of here.
The iconic magazine is rocking a little less lately and is up for sale. Turns out, the magazine isn't making any money! All because people are getting their stuff on the internet.
Co-founder and publisher of Rolling Stone magazine, Jann Wenner, is selling his last 51% stake in the company. Just last year, Wenner Media sold 49% to a music tech company in Singapore. So whoever buys the mag will have control over its future, and will ultimately decide what to do with it.
The magazine isn't the only iconic company fighting to stay afloat. Toys 'R' Us is struggling to stay above water also and could file for bankruptcy. Not good news considering Black Friday isn't that far away!
The kid's store is in some serious debt. $5 billion worth, and with online sites like Amazon taking the big bucks, things aren't looking good for the toy chain.
Welcome to 2017, where the internet is taking over everything!