JournalismPakistan.com | Published September 17, 2018
Join our WhatsApp channelWASHINGTON - Time Magazine is being sold by Meredith Corp. to Marc Benioff, a co-founder of Salesforce, and his wife.
The Wall Street Journal reported that the iconic news magazine is being sold for $190 million to Benioff, one of four co-founders of Salesforce, a cloud computing pioneer.
The sale is occurring nearly eight months after Meredith Corp. completed its purchase of Time Inc.
Meredith, the publisher of such magazines as People and Better Homes & Gardens, had put four Time Inc. publications up for sale in March. Negotiations for the sale of the three other publications — Fortune, Money and Sports Illustrated — are continuing.
The prospective sale is expected to close within 30 days. In an interview with the Journal, Benioff said he and his wife were investing “in a company with tremendous impact on the world, one that is also an incredibly strong business. That’s what we’re looking for when we invest as a family.”
The purchase of Time by Benioff continues a trend of acquisitions of old-line media institutions by wealthy tech giants. The Washington Post was purchased by Amazon founder Jeff Bezos in 2013 for $250 million.
Time, like other magazines, has struggled with continued declines in print advertising and newsstand sales.
Time, started by Yale University graduates Henry Luce and Briton Hadden, first went on sale in March 1923. The two had first worked together on the Yale Daily News. - AP
June 11, 2025: Pakistan celebrated a narrow win over Bangladesh, but beneath the jubilation lies a deeper crisis—from sidelined veterans to a collapsing domestic structure—signaling an urgent need for cricket reform.
June 11, 2025: Journalists walked out of the post-budget press conference in Islamabad to protest the absence of a technical briefing and the government's dismissive behavior, calling it unacceptable and intolerable.
May 31, 2025: Dr. Nauman Niaz has issued a defamation notice to Shoaib Akhtar over derogatory remarks made during a recent broadcast, reigniting a longstanding media feud between the two prominent figures in Pakistan.
May 30, 2025: The Human Rights Commission of Pakistan has demanded the full repeal of PECA, citing its vague language, coercive powers, and threats to free speech and digital rights in Pakistan.
May 30, 2025: The Pakistan Federal Union of Journalists (PFUJ) has condemned the murder of journalist Syed Mohammed Shah in Jacobabad, calling for urgent justice and improved safety for media professionals in Sindh.
May 26, 2025: In Rawalpindi, police allegedly side with Jang Group to block 66 reinstated employees from resuming work despite court orders, drawing sharp criticism from unions and press freedom advocates.
May 25, 2025: PFUJ condemns the Jang Group's decision to dismiss over 80 employees in Rawalpindi, calling it an 'economic massacre.' The union warns of nationwide protests if workers are not reinstated.
May 25, 2025: Daily Jang Rawalpindi has terminated over 80 employees, including female staff, despite multiple court rulings in their favor—raising concerns over labor rights violations and misuse of authority in Pakistani media.
May 19, 2025 PJS reports 219 Palestinian journalists killed in Israeli attacks since October 7, with 30 women among the victims. Over 430 were injured and 685 family members were killed. Read more on the systematic targeting of media in Gaza.
May 15, 2025 Discover the legacy of Samiullah Khan, Pakistan’s legendary "Flying Horse," whose breathtaking speed and artistry redefined hockey. From Olympic glory to World Cup triumphs, his story is one of myth, movement, and magic.
May 04, 2025 Algerian authorities suspend Echorouk News TV for 10 days after it used a racist slur against African migrants. ANIRA demands an apology, calling it a violation of human dignity.
May 04, 2025 NCHR and MMfD launch a journalism fellowship to train reporters on digital rights & gender inclusion in Pakistan. Supported by UNESCO, this initiative aims to bridge the gender digital divide. Apply by May 15, 2025!
April 23, 2025 Discover Dr. Nauman Niaz’s In A Different Realm: Story of Quadruple & Triple Centuries 1876–2025, a profound exploration of cricket's most monumental innings, blending historical analysis with poetic narrative.