Time Magazine is being sold by Meredith Corp to Marc Benioff, a co-founder of Salesforce, and his wife. The Wall Street Journal reported that the iconic news magazine is being sold for USD 190 million to Benioff, one of four co-founders of Salesforce, a cloud computing pioneer. The sale is occurring nearly eight months after Meredith Corp. completed its purchase of Time Inc. Meredith, the publisher of such magazines as People and Better Homes & Gardens, had put four Time Inc publications up for sale in March. Negotiations for the sale of the three other publications Fortune, Money and Sports Illustrated are continuing.
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