The daily business briefing: September 17, 2018

Meredith agrees to sell Time to Salesforce founder for $190 million, stocks struggle as Trump's tariff announcement looms, and more 

TIME magazine covers
(Image credit: ERIC BARADAT/AFP/Getty Images)

1. Meredith agrees to sell Time to Salesforce founder

Meredith Corp. said Sunday it had struck a "definitive" deal to sell Time magazine to Salesforce founder Marc Benioff and his wife Lynne Benioff for $190 million. Meredith, the Iowa-based publisher of Better Homes & Gardens, People, InStyle, and other magazines, finalized its purchase of Time Inc. eight months ago. It said in a press release that it expected to close the sale to the Benioffs within 30 days. Meredith said that the Benioffs "will not be involved in the day-to-day operations or journalistic decisions." It added that the agreement does not involve Salesforce.com, Benioff's cloud computing company.

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Harold Maass, The Week US

Harold Maass is a contributing editor at The Week. He has been writing for The Week since the 2001 debut of the U.S. print edition and served as editor of TheWeek.com when it launched in 2008. Harold started his career as a newspaper reporter in South Florida and Haiti. He has previously worked for a variety of news outlets, including The Miami Herald, ABC News and Fox News, and for several years wrote a daily roundup of financial news for The Week and Yahoo Finance.