Another millionaires' skills are in charge of major media outlets. Meredith, Person who acquired Time Inc. Today announced that he agreed to sell a magazine of the same name in cash for $ 190 million to Salesforce.com co-founder Mark Benioff and his wife Lynn Benioff.
Meredith said in March that it plans to sell time, sports illustration, lucky money, money as part of the goal of saving 40 billion to 500 million in the next two years and increasing the profitability of the portfolio Stated. According to today's announcement of the publication, the company said it expects to repay the debt using the Times paper sale price and reduce the $ 1 billion debt of 2020.
The purchase of Meredith's Tim Incorporated, it is an argument. We received financial support from Koch · Equity Development, A private equity fund managed by Charles and David Cock which is known for its conservative cause.
Benioff, who is building a position as a progressive political supporter, purchases a time magazine as an individual. In other words, other companies, including Benioff's president and co-CEO Salesforce.com, are not involved in this transaction. Marc Benioff told the Wall Street Journal that he and his wife would not be involved in Time Magazine's day-to-day work and editorial decisions, "I am investing in companies that have a major impact on the world. It is what we are looking for when investing in our family. "
Jeff Bezos of Amazon CEO who personally bought Washington five years ago and other high-tech bought major publications, such as Acer son Collective won the majority in the Atlantic, Lauren Powell Jobs The eldest. (Jack Ma was one of the driving forces to acquire South China Morning by Alibaba Group of 2020, but this acquisition was not done by the company, …
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Marc and Lynne Benioff acquired Times Magazine from Meredith in 1902 -
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