Time Magazine Sold For $190 million, To Marc Benioff and WIfe

Roughly after eight months ago, Time Magazine was purchased by Meredith Corp and Charles Koch for $1.8 billion.
Time has about 31.7 multi million online visitors, with a hike in 27.4 million unique visitors, with a repeated version in 2015 according to media measurement firm comScore Inc.

Lynn Benioff also said. “The power of Time is its unique story telling of the people and issues that affect us all and connect us all,”.

“We’re investing in a company with tremendous impact on the world, one that is also an incredibly strong business. That’s what we’re looking for when we invest as a family,” Marc Benioff said.

He added that Time is the only magazine they are planning to purchase from Meredith. The couple will be taking over Time amid a turbulent time for print publications. Print advertising is on the decline and Time cut circulation down from 3 million to 2.3 million earlier this year.

The proposed sale to the Benioffs is expected to close within 30 days and will be unrelated to Salesforce.com. T

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