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Two companies acquired US magazine.

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Telepictures and Rolling Stone announced the creation of a partnership to operate the magazine as a joint venture, with Rolling Stone Editor and Publisher Jann S. Wenner serving as editor-in-chief and chairman. The two firms said they anticipate “significant expenditures” to improve the magazine, which “may result in operating losses at the outset.” Those expenses will be born by Telepictures, the companies said.

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