Time magazine sold for $190 million to couple

National/World News
This is an archived article and the information in the article may be outdated. Please look at the time stamp on the story to see when it was last updated.

WASHINGTON — Time Magazine is being sold by Meredith Corp. to Marc Benioff, a co-founder of Salesforce, and his wife.

Lynne Benioff and Marc Benioff (Photo by Trisha Leeper/Getty Images)

The Wall Street Journal reported that the iconic news magazine is being sold for $190 million to Benioff, one of four co-founders of Salesforce, a cloud computing pioneer.

The sale is occurring nearly eight months after Meredith Corp. completed its purchase of Time Inc.

Meredith, the publisher of such magazines as People and Better Homes & Gardens, had put four Time Inc. publications up for sale in March. Negotiations for the sale of the three other publications — Fortune, Money and Sports Illustrated — are continuing.

Most Read

Top Stories

More Home Page Top Stories