The Guardian reports:
Time Magazine is being sold by Meredith to Marc Benioff, a co-founder of Salesforce, and his wife, it was announced on Sunday. Meredith announced that it was selling Time for $190m in cash to Benioff, one of four co-founders of Salesforce, a cloud computing pioneer. The Benioffs are purchasing Time personally, and the transaction is unrelated to Salesforce.com, where Benioff is chairman, co-chief executive and co-founder.
Benioff was honored by GLAAD in 2016 for helping to organize a boycott of Indiana over then-Gov. Mike Pence’s signing of an anti-LGBT “religious freedom” bill. He has also used his clout and wealth to push back against anti-LGBT legislation in other states.
He tells the New York Times this morning that his purchase is just an investment and that he has no intention of getting involved with Time “operationally.”