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View all search resultsSalesforce boss Marc Benioff, wife buy Time magazine
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Marc Benioff (L) and Lynne Benioff arrive at the 5th Annual Sean Penn & Friends HELP HAITI HOME Gala benefiting J/P Haitian Relief Organization at Montage Hotel in Beverly Hills, California. Salesforce.com chief Marc Benioff and his wife Lynne, will buy storied US news magazine Time for $190 million, a company statement said on September 16, 2018.
Matt Winkelmeyer / GETTY IMAGES NORTH AMERICA / AFP (AFP/-)
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alesforce.com chief Marc Benioff and his wife Lynne, will buy storied US news magazine Time for $190 million, a company statement said Sunday.
"The Benioffs are purchasing TIME personally and the transaction is unrelated to Salesforce.com, where Mr. Benioff is Chairman, co-CEO and founder," a statement from seller said.
They will not be involved in operations or journalistic decisions, "which will continue to be led by TIME's current executive leadership team," the statement said.
Meredith announced in March that it was looking for a buyer for four magazines, including Time, Fortune and Sports Illustrated, which were bought less than four months ago.
By snatching up Time, Marc Benioff joins another big boss of the tech industry, Amazon's Jeff Bezos, who owns the prestigious Washington Post newspaper.
