Salesforce's Benioff to buy Time
Salesforce.com founder Marc Benioff and his wife Lynne have agreed to acquire the Time magazine from Meredith Corp for $190 million in cash. The move thrusts the brash 53-year-old entrepreneur, who helped lead the shift of software to an on-demand model, into a new role as media baron. It is a transaction reminiscent of Mr Bezos's $250-million acquisition of the Washington Post in 2013. The Time, founded in 1923, has contended with a decline in print advertising in recent years. But it continues to reach a total of more than 100 million readers in print and online.