 Marc Benioff |
Salesforce CEO Marc Benioff and his wife, Lynne, are buying Time magazine for $190M cash from Meredith Corp, which acquired the Time Inc. magazine properties in January.
The new owners promise to stay away from the day-to-day operations and editorial direction of the magazine.
Meredith president Tom Harty said Meredith is "pleased to have found such passionate buyers in Marc and Lynne Benioff for the Time brand," which reaches 100M print and online readers monthly.
The Benioffs said in a statement they are honored to be the "caretakers of one of the world's most important media companies and iconic brands.
"Time has always been a trusted reflection of the state of the world, and reminds us that business is one of the greatest platforms for change," they said.
Meredith continues to look for buyers for Sports Illustrated, Fortune and Money to focus on its roster of women's magazines.
Michael Kaminer, who was responsible for the Observer’s “Power List” for the past 13 years, has cut ties with the publication... The New York Times Company continues the march toward its goal of 15 million subscribers by the end of 2027... The John D. and Catherine T. MacArthur Foundation is providing more than $6 million in funding to eight organizations working to address the challenges local news and information environments face along the U.S.-Mexico border.
Conservative outlets Fox News, Newsmax and the Daily Caller are holding back from signing Pete Hegseth’s edict restricting press access in the Pentagon... CBS News sees the first executive departure of the Bari Weiss era as head of standards and practices Claudia Milne exits... Indiana University shuts down the print version of The Indiana Daily Student.
Rothschild family plans to unload 26.7 percent stake in The Economist... STAT, a digital media company that focuses the life sciences, brings back Damian Garde, who anchored its biotech newsletter and podcast from 2016 to 2024... High Times officially resumes print publication (following its 2024 shutdown) with the release of a limited-edition, collectible 50th anniversary issue. 
CBS News is set to hand over its reins to The Free Press co-founder Bari Weiss as Paramount acquires her site for $155M... C-SPAN comes on board as an official media partner of the U.S. Semiquincentennial Commission, which is charged by Congress to lead the celebration of the 250th anniversary of the signing of the Declaration of Independence... A new Gallup survey says that the level of trust that US audiences have in the media has hit a new low.
Paramount Skydance CEO David Ellison has named Kenneth Weinstein, former head of the conservative Hudson Institute, as ombudsman for CBS News.
