Time magazine has new owner bought for 190 million

You're referring to the recent news about Time Magazine!

Yes, you're correct. Time Magazine has been sold to Marc Benioff, the co-founder and CEO of Salesforce, and his wife Lynne Benioff for $190 million. The sale was announced on October 29, 2022.

The Benioffs purchased Time Magazine from Meredith Corporation, which had acquired the publication in 2018. The sale includes Time Magazine, as well as its various digital properties, such as Time.com and the Time brand's social media channels.

Marc Benioff, a well-known entrepreneur and philanthropist, has expressed his enthusiasm for the acquisition, stating that he believes Time Magazine has the potential to be a powerful platform for storytelling and journalism. He has also emphasized his commitment to preserving the publication's independence and integrity.

The sale is seen as a significant development in the media landscape, as Time Magazine is one of the most iconic and respected publications in the world. The Benioffs' ownership is expected to bring new resources and expertise to the publication, which could help it continue to thrive in the digital age.