Marc and Lynne Benioff will buy Time magazine from Meredith for $190M

Another tech billionaire will scoop up a major news outlet. Meredith Corporation,which acquired Time Inc.in January, announced today that it has agreed to sell its eponymous magazine to Salesforce.com co-founder Marc Benioff and his wife Lynne Benioff for $190 million in cash.
Meredith said in March that it planned to sell Time, Sports Illustrated, Fortune and Money as part of its goal to save $400 million to $500 million over the next two years and increase the profitability of its remaining po