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Time Magazine Is Purchased by Marc Benioff, Salesforce Billionaire

Thursday, December 26th, 2019

Time Magazine Is Purchased by Marc Benioff, Salesforce Billionaire

Time, the pre-eminent regular newsmagazine of this twentieth century, need brand brand brand new owners: Marc Benioff, the billionaire co-founder regarding the computer computer software business Salesforce, and his spouse, Lynne.

Time’s moms and dad business, Meredith Corporation, announced on that it had agreed to sell the flagship publication of once-mighty Time Inc. to the Benioffs for $190 million in cash sunday.

Mr. Benioff becomes the tech billionaire that is latest to use the reins of a iconic news brand name. Jeff Bezos, the creator and leader of Amazon, purchased The Washington Post in 2013. Last year, Laurene Powell work, the widow for the Apple co-founder Steve Jobs, consented to get a big part stake into the Atlantic mag through her company, Emerson Collective.

Now, with all the deal for Time, the Benioffs have found probably one of the most storied — but struggling — magazines in the united states. (more…)