The venerable newsmagazine Time, a almost 100-year-old media institution, is about to have new owners - Marc Benioff, Salesforce chairman and co-CEO, and Lynne Benioff, his wife.
Nearly eight months after Meredith finalized its purchase of Time Inc., the publishing giant says it reached a deal to sell Time magazine to tech billionaire Marc Benioff and his wife Lynne Benioff.
If the proposed sale closes within the expected 30 days as announced late Sunday, the Benioffs would follow another tech industry titan, Amazon's Jeff Bezos, in purchasing a long-standing icon of traditional journalism.
"We're pleased to have found such passionate buyers in Marc and Lynne Benioff for the TIME brand", said Meredith president and CEO Tom Harty.
"The power of Time has always been in its unique story telling of the people and issues that affect us all and connect us all", Benioff said.
Despite those reassurances, there will surely be some scrutiny about a Silicon Valley CEO taking over Time, a magazine that frequently covers subjects like technology's impact on society.
However, the Benioffs said they're hopeful given Time's large audience and expanded online presence.
Through the deal with Benioff, Meredith will still provide "services such as consumer marketing, subscription fulfillment, paper purchasing and printing", according to the company.
In 2017, Meredith sealed the deal on the purchase of Time with the backing of conservative billionaires Charles and David Koch.
The Benioffs will not be involved in the day-to-day operations or the editorial decisions of the magazine, the news release said.
He added, "That's what we're looking for when we invest as a family". Meredith previously tried to acquire Time Inc.in 2013, but allegedly balked at bundling Time, Fortune, Sports Illustrated and other major titles into the deal.
The media conglomerate said it plans to use the money from the sale to pay down debt, with the goal of cutting its debt by $1 billion during the upcoming fiscal year.
The following cut in fuel prices come even after the petrol and diesel prices were increased in several parts of the country. Barely a week after Andhra Pradesh and West Bengal announced a cut in fuel prices , Karnataka has chose to follow suit.
Images have revealed collapsed building scaffolding and trees bending in the strong winds across Guangdong province. In China, all flights at Guangzhou International Airport were canceled from midday Sunday through Monday morning.
In the city's inner harbor district, the water level reached 1.5 meters (5 feet) on Sunday and was expected to rise further. At the moment, Mangkhut is positioned 62 miles west of Hong Kong, but high winds are still able to make a full impact.
The penalty negated an interception by Jaire Alexander with 1:45 left that would have allowed the Packers to run out the clock. The Vikings' defense pulled through on the ensuing dirve, holding Green Bay to a field goal with 2:04 left in regulation.
Thom Tillis (R-N.C.) and John Neely Kennedy (R-La.) expressed concerns that a letter outlining the allegation that Sen. Shortly after the WaPo report went public, Democratic Senators called for the vote on Kavanaugh to be delayed.
Israel accuses Hamas, the movement that runs the Gaza Strip, of seeking to use the protests to carry out attacks or infiltrations. Ambassador to Israel David Friedman in a tweet shortly after Fuld's death was announced.
The Judiciary Committee plans to vote on his nomination this week, as top Republicans look to advance it to the Senate floor. It had been a previously scheduled follow-up to an initial visit that Kavanaugh made to her office in August.
After you've tried it, you may not feel like upgrading. "And keeping using them is the best thing for the planet". Once you download an app while it is in the offer, you won't be charged anything when you download it later.
Brees finished 28 of 35 for 243 yards and two touchdowns, while Taylor completed 22 of 30 for 246 yards and a touchdown. Cleveland took a 3-0 lead on a 39-yard field goal by Gonzales with 8:29 to go in the first quarter.
Hurricane Florence has caused some damage to Wilmington International Airport, said Gary Broughton, the airport's deputy director. People are stranded on their roofs, with about 200 residents in New Bern having to be rescued so far as the storm roared ashore.
A UK-based war monitor, the Syrian Observatory for Human Rights, said the missiles hit a weapons depot outside the airport. In a shaky video, a small, bright explosion is seen in the night sky, with city lights in the distance.
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