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Time Inc

Company

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Owners:
Marc Benioff
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Owners

Time is an American weekly magazine headquartered in New York, covering the rating of people over a period (year, century, etc.).

History

2018: Salesforce chief buys Time for $190m

September 17, 2018 it became known about the purchase of Time magazine by Marc Benioff. The deal is worth $190 million, according to Salesforce.com, which is headed by an entrepreneur.

The deal, which will see US news weekly Time, owned by media corporation Meredith, take over Benioff's ownership, is scheduled to close in October 2018. Meredith will spend the funds received to pay off debts.

The editor-in-chief of the magazine, Edward Felsenthal, clarified that "Benioff will own Time magazine as a family investment." According to him, the couple will not directly manage the media project.[1]

Marc and Lynn Benioff

Salesforce notes that the deal is not related to the company. It is emphasized that Marc Benioff and his spouse Lynn will not participate in the editorial policy of the publication - the current leadership of the magazine will continue to deal with it.

At the same time, Time considers it a great luck to have on the part of the Benioff spouses their "parting words and mentoring on the way to building a new company."

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The power of Time has always been in the unique stories about people and issues that touch and connect us all. It's a treasure trove of our history and culture. We deeply respect their organization and are proud to be the managers of this iconic brand, "wrote Marc Benioff on his Twitter blog.
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2017: Meredith bought  Time

Meredith Corporation bought Time for $1.8 billion at the end of 2017. The publishing house, in addition to Time magazine, includes dozens of other media outlets, including Fortune, Life and People magazines. In March 2018, the company announced plans to sell Time, Sports Illustrated, Fortune and Money.

2016: Debt $1.4 billion

In November 2016, the Financial Times wrote that Time Inc.'s debt amounted to $1.4 billion.

2014:50% cap reduction

In 2014, the capitalization of the publishing house decreased by 50% due to forecasts regarding future print media.

2006

Queen Elizabeth II of Britain on the cover of Time magazine at the age of 80, 2006

1991

Former President of the USSR Mikhail Gorbachev

1990

USSR President Mikhail Gorbachev June 4, 1990

1989

US President George W. Bush and Secretary General of the CPSU Central Committee Mikhail Gorbachev, December 11, 1989

1988: Mikhail Gorbachev - Person of the Year

Secretary General of the Central Committee of the CPSU Mikhail Gorbachev, January 4, 1988

1987

Secretary General of the Central Committee of the CPSU Mikhail Gorbachev, December 14, 1987
Secretary General of the Central Committee of the CPSU Mikhail Gorbachev, July 27, 1987

1985

US President Ronald Reagan and Secretary General of the Central Committee of the CPSU Mikhail Gorbachev, December 2, 1985
Secretary General of the Central Committee of the CPSU Mikhail Gorbachev, March 25, 1985

1961: Gagarin on the cover

Life magazine teaches you how to kiss properly, 1942.

1953

Coronation Portrait of Queen Elizabeth II of Britain, 1953

1942

1936: Time founder buys out Life magazine

In 1936, Time magazine founder and publisher Henry Luce paid $92,000 for Life. During the Henry Luce period, Life was the first all-photographic American news magazine to be published for 40 years.

Notes