Jann Wenner Wishes He Sold Out to MTV Instead of Embarassing Himself With MTV
That he didn't sell Rolling Stone to MTV is one of Jann Wenner's biggest regrets. As he celebrates the 40th anniversary of his music mag – special edition covers! archives on CD-ROM! – Jann has made public his reflections on his storied career. And while most of us only care about Jann these days in how much more of a role he'll have in Neal Boulton's life, let's pause for a moment of assholeness:
And Wenner could have become one of the richest men on the planet if he had accepted an offer years ago to sell the magazine to MTV in return for a 25 percent stake in the fledgling music cable channel.
"I would never have had the wisdom or foresight to hang onto it and own more of (MTV parent) Viacom than (Viacom's billionaire chairman) Sumner Redstone," he said.
Instead, Wenner will have to survive on his hundreds of millions. And knowing that when he finally did agree to do a deal with MTV, it ended in utter humiliation.