How is Marc Benioff personally?
Another traditional name from the American media world will in future belong to a tech billionaire: the software entrepreneur Marc Benioff and his wife Lynne buy the magazine “Time”. The purchase price is $ 190 million in cash.
Benioff is the founder and head of Salesforce, which specializes in corporate software from the Internet cloud and competes with the German SAP group, among others. The Benioffs buy “Time” as private individuals. The couple will not intervene in everyday editorial life, said the previous owner, the media group Meredith, on Monday night.
In a similar way, Amazon founder Jeff Bezos bought the Washington Post around five years ago. He paid $ 250 million - and it is not known how much money he has since invested in operating and modernizing the sheet. The critical attitude of the Washington Post towards US President Donald Trump traded Bezos - and also Amazon - repeated attacks from the White House.
Like the Washington Post at the time, Time was hit hard by the decline in print advertising revenues. Meredith had only bought the magazine in January, but now plans to part with several well-known titles in order to cut costs by up to $ 500 million over the next two years. “Fortune”, “Money” and “Sports Illustrated” are also for sale.
According to US media reports, Meredith's price expectations have so far diverged greatly from those of potential buyers. The group also publishes the “People” magazine, among other things.
For decades, “Time” was one of the best-known and most influential US publications. The choice of “Person of the Year”, for example, always attracted a lot of international attention. In the past few years, "Time" tried to gain a foothold online in view of falling circulation and print advertising revenues. (awp sda7dpa / eh)
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