Marc Benioff Reportedly Exploring Sale of Time Magazine
Salesforce Inc. Chairman and CEO Marc Benioff, along with his wife Lynn, is reportedly in discussions to sell Time magazine to the Greek media company Antenna Group, also known as ANT1 Group, according to a report by CNBC.
Sources familiar with the matter have indicated that the talks are in the preliminary stages, with no certainty that a deal will materialize.
In a statement to CNBC, a Time magazine spokesperson clarified, “There is no agreement to sell Time,” but did not confirm or deny whether discussions about a potential sale are ongoing.
Yes, Salesforce CEO Marc Benioff is in talks to sell Time magazine to the Greek media company Antenna Group for around $150 million:
- Sale price: The rumored sale price is around $150 million.
- Buyer: The buyer is Antenna Group, a Greek media company that mainly invests in Europe.
- Seller: The seller is Marc Benioff, who co-founded Salesforce and bought Time magazine in 2018 with his wife Lynne for $190 million.
- Status: The talks are ongoing, but no deal is assured.
The sale comes at a time when many legacy media companies are struggling. Other media companies that have been acquired by billionaire owners have laid off staff in the past year.
Antenna Group was previously a bidder for Vice Media in 2022, before the company went bankrupt.
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