JournalismPakistan.com | Published September 17, 2018
Join our WhatsApp channel
WASHINGTON - Time Magazine is being sold by Meredith Corp. to Marc Benioff, a co-founder of Salesforce, and his wife.
The Wall Street Journal reported that the iconic news magazine is being sold for $190 million to Benioff, one of four co-founders of Salesforce, a cloud computing pioneer.
The sale is occurring nearly eight months after Meredith Corp. completed its purchase of Time Inc.
Meredith, the publisher of such magazines as People and Better Homes & Gardens, had put four Time Inc. publications up for sale in March. Negotiations for the sale of the three other publications — Fortune, Money and Sports Illustrated — are continuing.
The prospective sale is expected to close within 30 days. In an interview with the Journal, Benioff said he and his wife were investing “in a company with tremendous impact on the world, one that is also an incredibly strong business. That’s what we’re looking for when we invest as a family.”
The purchase of Time by Benioff continues a trend of acquisitions of old-line media institutions by wealthy tech giants. The Washington Post was purchased by Amazon founder Jeff Bezos in 2013 for $250 million.
Time, like other magazines, has struggled with continued declines in print advertising and newsstand sales.
Time, started by Yale University graduates Henry Luce and Briton Hadden, first went on sale in March 1923. The two had first worked together on the Yale Daily News. - AP
April 11, 2025: Sindhi journalist AD Shar was brutally murdered in Khairpur, Sindh. His body was found dumped on Handiyari Link Road. PFUJ has declared a three-day mourning period and demanded justice.
April 10, 2025: The Azad Jammu and Kashmir government has filed a case against The Daily Jammu & Kashmir and its staff for alleged fake news, drawing condemnation from PFUJ and IFJ, who demand immediate withdrawal of the FIR and an end to media repression in Pakistan.
April 08, 2025: Journalist Arzoo Kazmi alleges that Pakistan's state agencies, including the FIA, have blocked her CNIC, passport, and bank account while threatening her. She calls it a direct attack on journalism.
April 07, 2025: The Islamabad High Court has directed IG Islamabad to produce journalist Ahmad Noorani’s missing brothers, as the Ministry of Defence denies custody. SIM activity was traced in Bahawalpur, and investigations into their suspected abduction continue.
April 07, 2025: Journalist and Raftar founder Farhan Mallick has been granted bail by a Karachi court in a case concerning anti-state content aired on his YouTube channel. He still faces separate charges related to an alleged illegal call center and data theft.
April 03, 2025: Veteran journalist Ghulam Abbas Shah has joined Discover Pakistan Television as the Head of Programming. With 25 years of experience in leading news organizations, he looks forward to contributing to quality storytelling and content.
April 02, 2025: The Pakistan Federal Union of Journalists (PFUJ) has strongly condemned the visit of a group of Pakistani journalists to Israel, calling it a violation of journalistic ethics and a betrayal of press freedom and human rights. PFUJ demands a transparent investigation into the matter.
March 30, 2025: Dawn criticizes Pakistan’s plan to use TV dramas against extremism, highlighting financial and digital challenges. Can media alone solve deep-rooted issues?
April 03, 2025 The International Press Institute (IPI) and International Media Support (IMS) invite nominations for the 2025 World Press Freedom Hero and Free Media Pioneer Awards. Recognizing courageous journalists and innovative media, the awards will be presented at IPI’s 75th-anniversary World Congress in Vienna. Submit your nominations by April 30, 2025.
April 01, 2025 Photojournalist Suresh Rajak was burned alive while covering a violent protest in Kathmandu. The IFJ and its affiliates condemn the attack and call for an urgent investigation to hold the perpetrators accountable.
April 01, 2025 Assam Police arrested digital journalist Dilwar Hussain Mozumder for covering a protest against alleged corruption at Assam Co-Operative Bank. Media organizations have condemned the arrest, calling it an attack on press freedom.
March 29, 2025 A federal judge has blocked the Trump administration’s attempt to dismantle Voice of America (VOA), ruling that the move likely violated legal procedures. The decision protects over 1,200 journalists and media staff.
March 28, 2025 Turkey deports BBC journalist Mark Lowen over 'public order' threat and fines opposition TV channels covering Istanbul Mayor's arrest. Critics condemn crackdown on press freedom amid rising political tensions.