Time Magazine, one of the most renowned publications in the United States, has just been bought out by a Silicon Valley tech mogul. The deal, which is worth around $190 million, would transfer the publications and all the assets to Marc Benioff. Benioff is the owner of Salesforce.com and is, by himself, worth over $6 billion dollars. The nearly $200 million he spent on buying out Time seems like pocket change to him and his wife, Lynne.
Time Magazine first started publication in 1923 and quickly garnered success due to its coverage of current events, how technology shapes our society, and the “Most Influential Person Of The Year” articles it writes every year. While this purchase has no indication of whether or not the magazine will shift perspectives, we do know that it’ll move Time in a more technological direction due to Benioff’s expertise in the area of knowledge.
The final deal is expected to close within the next 30 days, and its got many people talking about it. To get all the up-to-date coverage on the merge, make sure to watch the entire video playlist above.