Time Magazine Is Purchased by Marc Benioff, Salesforce Billionaire

Time Magazine Is Purchased by Marc Benioff, Salesforce Billionaire

Time, the pre-eminent regular newsmagazine associated with twentieth century, could have brand new owners: Marc Benioff, the billionaire co-founder associated with the computer pc software business Salesforce, along with his spouse, Lynne.

Time’s parent 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 latest technology billionaire to just take the reins of an iconic news brand name. Jeff Bezos, the creator and executive that is chief of, purchased The Washington Post in 2013. This past year, Laurene Powell Jobs, the widow associated with the Apple co-founder Steve work, decided to get a big part stake when you look at the Atlantic mag through her company, Emerson Collective.

Now, because of the deal for Time, the Benioffs have actually picked up perhaps one of the most storied — but struggling publications that are the united states.