Time magazine is about to change hands for the second time in less than a year. In a deal awaiting the approval of regulators, Salesforce founder Marc Benioff and his wife, Lynne, are buying the 95-year-old… Media News Summaries.
(Newser)
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Time magazine is about to change hands for the second time in less than a year. In a deal awaiting the approval of regulators, Salesforce founder Marc Benioff and his wife, Lynne, are buying the 95-year-old magazine from Meredith Corporation for $190 million, CNBC reports. Meredith—which acquired Time, Inc. late last year and began looking into selling some of the company’s magazines within months—said in a statement that the Benioffs are buying the magazine «personally» and won’t be involved in «day-to-day operations or journalistic decisions.» Benioff, the latest tech billionaire to invest in print media, said in a statement that he and his wife had deep respect for Time and its «iconic brand,» reports the BBC .
