Mark Benioff, CEO, Salesforce buys Time Magazine for $ 190 mn

According to media reports, Salesforce CEO Mark Benioff along with his wife Lynne Benioff, are in the process of buying Time Magazine for U.S.D 190 million from Meredith Corp. The deal is expected to close in the next 30 days.

Meredith Corp bought Time Inc last November. The organisation had said it would sell off properties like Time Magazine that were not a ‘great fit’ with its existing properties. Meredith is also working on selling three other former Time Inc. titles: Fortune, Money, and Sports Illustrated.