*By Conor White* Just eight months after finding a new home, Time magazine is moving again. Salesforce founder and Co-CEO Marc Benioff and his wife Lynne are purchasing the magazine from Meredith Corp. for $190 million. The deal should be welcome for employees of the venerated title, according to Chandra Steele, senior features writer at PC Mag. "Media in general is tenuous, but if you really don't know what's going to happen in the future, this is a nice cash infusion," she explained in an interview on Cheddar. "It's somebody who has experience with data and analytics and I think that's what Time needs right now." Meredith, which owned Better Holmes and Gardens and Family Circle before buying Time Inc. earlier this year, said in May it planned to divest iconic titles like Time, Sports Illustrated, and Fortune. In Sunday's announcement, Time said the Benioffs will not be involved in the day-to-day operations of Time and will have no editorial impact. They made the purchase in an individual capacity, not as part of Salesforce. This wouldn't be the first time a giant in the tech world got in on the media business. The Washington Post is now owned by Amazon CEO Jeff Bezos, and The Los Angeles Times was recently purchased by Dr. Patrick Soon-Shiong, one of the richest men in LA. In an interview Monday on Cheddar, Steele said purchases like these can only be seen as positive for legacy media organizations, which have struggled in the digital age. "We have to realize that print is something that's beneficial to everyone," Steele noted. "It's great to have digital, but I think that these billionaires are realizing that there's benefit to that." Steele said that Benioff is unlikely to shut off the printing presses or make the dreaded "pivot to video." "The thing with Time is its cover is so iconic," she said. "A lot of times you'll see things go from print to just digital, I don't think that's an option for Time really." For full interview [click here](https://cheddar.com/videos/time-magazine-gets-new-owner).

Share:
More In Business
Michigan Judge Sentences Walmart Shoplifters to Wash Parking Lot Cars
A Michigan judge is putting sponges in the hands of shoplifters and ordering them to wash cars in a Walmart parking lot when spring weather arrives. Genesee County Judge Jeffrey Clothier hopes the unusual form of community service discourages people from stealing from Walmart. The judge also wants to reward shoppers with free car washes. Clothier says he began ordering “Walmart wash” sentences this week for shoplifting at the store in Grand Blanc Township. He believes 75 to 100 people eventually will be ordered to wash cars this spring. Clothier says he will be washing cars alongside them when the time comes.
State Department Halts Plan to buy $400M of Armored Tesla Vehicles
The State Department had been in talks with Elon Musk’s Tesla company to buy armored electric vehicles, but the plans have been put on hold by the Trump administration after reports emerged about a potential $400 million purchase. A State Department spokesperson said the electric car company owned by Musk was the only one that expressed interest back in May 2024. The deal with Tesla was only in its planning phases but it was forecast to be the largest contract of the year. It shows how some of his wealth has come and was still expected to come from taxpayers.
Goodyear Blimp at 100: ‘Floating Piece of Americana’ Still Thriving
At 100 years old, the Goodyear Blimp is an ageless star in the sky. The 246-foot-long airship will be in the background of the Daytona 500 — flying roughly 1,500 feet above Daytona International Speedway, actually — to celebrate its greatest anniversary tour. Even though remote camera technologies are improving regularly and changing the landscape of aerial footage, the blimp continues to carve out a niche. At Daytona, with the usual 40-car field racing around a 2½-mile superspeedway, views from the blimp aptly provide the scope of the event.
Load More