Benioffs to buy Time magazine for $190M in cash Salesforce.com Inc.
founder Marc Benioff and his wife Lynne agreed to acquire Time magazine from Meredith Corp. for $190 million in cash, joining Jeff Bezos among tech billionaires buying venerable print publications.
It’s a transaction reminiscent of Bezos’s $250 million acquisition of the Washington Post in 2013.
Benioff, who has a net worth of $6.5 billion, serves as the co-chief executive officer of Salesforce, but the deal is unrelated to the tech company, according to the statement.
The Benioffs are buying the media brand personally.
https://www.detroitnews.com/story/business/2018/09/16/benioffs-buy-time-magazine-cash/37839907/
Meredith Corp. To Sell ‘Time’ Magazine To Salesforce Founder For $190 Million : NPR