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    Tech billionaire Marc Benioff buys Time magazine

    Chronicle EditorBy Chronicle EditorSeptember 17, 2018No Comments2 Mins Read
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    Tech billionaire Marc Benioff buys Time magazine
    Tech billionaire Marc Benioff buys Time magazine
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    The co-founder of Salesforce.com, Marc Benioff, and his wife are personally buying Time for $190m (£145.3m).

    In a statement, Meredith said the Benioffs “will not be involved in the day-to-day operations or journalistic decisions”.

    The deal could close within a month but must first get regulatory approval.

    Mr Benioff – who is chairman, co-chief executive and co-founder of the cloud computing firm Salesforce.com – said that he and his wife have deep respect for the organisation and its iconic brand.

    • Multi-millionaires in Africa hits 7,100 but shrinks in Nigeria

    “The power of Time has always been in its unique storytelling of the people and issues that affect us all, and connect us all,” he tweeted.

    Marc and Lynne Benioff will not be involved in operations or journalistic decisions
    Marc and Lynne Benioff will not be involved in operations or journalistic decisions

    The Benioffs take over the publication at an uncertain time for print media. Time has cut its circulation and struggled with declining advertising revenues.

    Meredith only completed its purchase of parent company Time Inc in January and moved to sell some its most well-known magazine titles soon after.

    Mr Benioff, who is worth $6.7bn according to Forbes, is the latest tech figure to acquire a traditional print publication.

    Amazon chief executive Jeff Bezos bought the Washington Post in 2013. Last year, Laurene Powell Jobs, philanthropist and widow of Steve Jobs, acquired a majority stake in The Atlantic magazine.

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    Troops nab 25 suspected bandits, kidnappers along Benue highway 

    Troops nab 25 suspected bandits, kidnappers along Benue highway 

    July 2, 2025
    Mark says Tinubu’s govt hijacking democracy, fueling poverty, insecurity

    Mark says Tinubu’s govt hijacking democracy, fueling poverty, insecurity

    July 2, 2025
    Staff members of the Federal Capital Territory Administration, FCTA, under the Joint Union Action Committee, JUAC, ended their three-day protest on Wednesday.

    FCTA workers end protest, issue 21-day ultimatum

    July 2, 2025
    Mexico uncovers over 400 corpses in 'house of error'

    Mexico uncovers over 400 corpses in ‘house of horror’

    July 2, 2025
    Minister for Justice and Attorney-General Abubakar Malami EFCC assets

    Ex-AGF Malami dumps APC, joins ADC, cites national decline

    July 2, 2025
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