Marc Benioff and Wife Buy Time Magazine for $190 Million

Martin Crutsinger, reporting for the AP:

Time Magazine is being sold by Meredith Corp. to Marc Benioff, a co-founder of Salesforce, and his wife, it was announced Sunday. [...]

The Benioffs are purchasing Time personally, and the transaction is unrelated to, where Benioff is chairman and co-CEO and co-founder. The announcement by Meredith said that the Benioffs would not be involved in the day-to-day operations or journalistic decisions at Time. Those decisions will continue to be made by Time’s current executive leadership team, the announcement said.

Sounds like a great landing spot for a great magazine. Hopefully it works as well for Time as Jeff Bezos’s acquisition has for The Washington Post.

Monday, 17 September 2018