Marc Benioff, the founder of Salesforce.com, is reportedly in discussions to sell Time magazine to the Antenna Group. Details of the proposed deal, including the potential purchase price, have not been disclosed yet.
The Antenna Group is a leading international media and entertainment organization, with operations spanning from TV and radio broadcasting to digital platforms, cinemas, music, magazines, and children’s content. This move could significantly enhance the group’s portfolio in the publishing sector.
Benioff acquired Time magazine from Meredith Corporation in 2018 for $190 million. The focus on digital transformation under his ownership showed considerable success as Time’s digital advertising and subscription revenues grew significantly. The sale to the Antenna Group might be part of a strategy to focus more on Salesforce.com’s core business.
However, until the deal is confirmed, it is speculative to say when the transition would take place and what it would mean for Time magazine’s existing editorials and workforce. Both Time magazine and the Antenna Group have not issued any official comments on the subject.
This information suggests a significant shift in the media industry landscape, as proprietors change and the industry continues to navigate digital adaptations. As the situation unfolds, more details about this potential media acquisition will emerge.