Media gossip: According to Danwei sources, Red Gate Media has signed a licensing agreement with Wenner Media to publish Rolling Stone magazine in China. Apparently, the magazine is scheduled to launch in October.
In addition to Rolling Stone, Wenner Media publishes Men’s Journal and US Weekly in the United States. Rolling Stone was probably the most commercially succesful magazine to emerge from the American counter-cultural scene of the 1960s and ’70s, but has been struggling to maintain its edge in the last decade. In 2002, Rolling Stone hired lad mag editor Ed Needham from FHM UK in an attempt to win over younger readers.
Red Gate Media, aka One Media Group, is tied in to Hong Kong’s Ming Pao Group. This is how Red Gates describes itself (on its website):
Redgate Media was founded on three key principles:
1. China’s media market is highly fragmented and will consolidate.
2. Advertising in China is a major industry and will continue to grow strongly for the foreseeable future.
3. There are media properties in China that will benefit from the involvement of seasoned media professionals.
Believing in these principles, we have assembled a team of seasoned industry veterans and a portfolio of undervalued China media assets; and we feel that this is the recipe for unlocking advertising value.
LINKS:
Magazine Marketplace summary about Red Gate Media
Cynical Danwei take on previous media reports about Red Gate
Image from Rolling Stone website