Marc Benioff (Salesforce) takes over Time Magazine

Amazon top man Jeff Bezos saved The Washington Post, and the equally wealthy Marc Benioff of Salesforce does the same with Time Magazine. He and his wife Lynne pay 190 million dollars for the American weekly. It is expected that the acquisition will be completed within thirty days. Publisher Meredith announces in March that it wanted to sell a number of magazines, including Time, Sports Illustrated and Fortune

Amazon top man Jeff Bezos saved The Washington Post, and the equally wealthy Marc Benioff of Salesforce does the same with Time Magazine. He and his wife Lynne pay 190 million dollars for the American weekly.

It is expected that the acquisition will be completed within thirty days.

Publisher Meredith announces in March that it wanted to sell a number of magazines, including Time, Sports Illustrated and Fortune.

According to chief editor Edward Felsenthal, it is purely a private investment. There is no relationship with Salesforce.

Benioff holds 246th place in Bloomberg's billionaire rankings. He calls the magazine a 'treasure chest of our history and culture'.