Meredith Corp. is selling Time magazine for $190 million to husband and wife philanthropists Marc and Lynne Benioff.
Marc Benioff is the co-founder, chairman, and co-CEO of Salesforce. The deal is expected to close within 30 days, The Wall Street Journal reports. "We're investing in a company with tremendous impact on the world, one that is also an incredibly strong business," Marc Benioff told the Journal. "That's what we're looking for when we invest as a family."
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