TIME MAGAZINE SOLD TO SALESFORCE FOUNDER
Meredith Corp. has reached a tentative agreement to sell Time magazine for $190 million to Salesforce founder and co-CEO Marc Benioff. In a statement, Meredith, the Des Moines, Iowa-based publisher, said Marc and Lynne Benioff were purchasing the title personally and that “the transaction is unrelated” to Salesforce, adding that the Benioffs would not be involved in day-to-day journalistic decisions. Meredith acquired Time as part of its $2.8 billion purchase of Time Inc. in January 2018.