By the 1980s, despite still nominally employing icons such as Hunter S. Thompson and the infamous rock-journalist badboy Lester Bangs, Rolling Stone had become institutionalized and adopted mainstream ideas that it had shunned earlier (e.g., employee drug testing). The magazine moved to New York to be closer to the advertising industry, and many date its change in culture from this point.
In the early 2000s, facing declining revenue due to the rapid rise of young men's magazines such as Maxim and FHM, Rolling Stone reinvented itself, targeting a lower age group and offering more sex-oriented content. In 2004, Rolling Stone put out a list of The 500 Greatest Songs of All Time (http://www.rollingstone.com/news/story/_/id/6596661). That same year, the magazine stated that it would continue to put out special issues occasionally.
Rolling Stone Magazine: The Uncensored History - Robert Draper
Initially the magazine identified with and reported on the hippie counterculture, though it distanced itself from the underground newspapers of the time, embracing more traditional journalistic standards and avoiding the radical politics of the underground press.
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