Co-Founder of Salesforce Buys Time Magazine for $190 Million

An issue of Time magazine is displayed on a New York newsstand. Time Magazine is being sold by Meredith Corp. to Marc Benioff, a co-founder of Salesforce, and his wife. Nov. 16, 2017. AP Photo/Mark Lennihan, File

WASHINGTON—Time Magazine is being sold by Meredith Corp. to Marc Benioff, a co-founder of Salesforce, and his wife, it was announced Sept. 16.

Meredith announced that it was selling Time magazine for $190 million in cash to Benioff, one of four co-founders of Salesforce, a cloud computing pioneer.