Time Magazine to have new owners

Time, the pre-eminent weekly newsmagazine of the 20th century, will have new owners: Marc Benioff, the billionaire co-founder of the software company Salesforce, and his wife, Lynne, reports The New York Times.

Time’s parent company, Meredith Corporation, announced on Sunday that it had agreed to sell the flagship publication of once-mighty Time Inc. to the Benioffs for $190 million in cash.

Mr. Benioff becomes the latest tech billionaire to take the reins of an iconic media brand. Jeff Bezos, the founder and chief executive of Amazon, bought The Washington Post in 2013.

 

Time Magazine to have new owners

Time, the pre-eminent weekly newsmagazine of the 20th century, will have new owners: Marc Benioff, the billionaire co-founder of the software company Salesforce, and his wife, Lynne, reports The New York Times. Times parent company, Meredith Corporation, announced on Sunday that it had agreed to sell the flagship publication of once-mighty Time Inc. to the Benioffs for $190 million in cash. Mr. Benioff becomes the latest tech billionaire to take the reins of an iconic media brand. Jeff Bezos, the founder and chief executive of Amazon, bought The Washington Post in 2013.