Tech Billionaire, Wife to Buy Time for $190M

Time magazine is about to change hands for the second time in less than a year. In a deal awaiting the approval of regulators, Salesforce founder Marc Benioff and his wife, Lynne, are buying the 95-year-old magazine from Meredith Corporation for $190 million, CNBC reports. Meredith—which acquired Time Inc. late last year and began looking into selling some of the company's magazines within months—said in a statement that the Benioffs are buying the magazine "personally" and won't be involved in "day-to-day operations or journalistic decisions." Benioff, the latest tech billionaire to invest in print media, said in a statement that he and his wife had deep respect for Time and its "iconic brand," reports the BBC.