Salesforce Tech Billionaire Buys Time Magazine From Meredith

September 17, 2018 / 5:32 AM EDT / CBS New York

NEW YORK (CBSNewYork) – Time Magazine has a new owner this morning.

The Meredith Corporation says it has sold the title to tech billionaire Marc Benioff, CEO of Salesforce, and his wife Lynne.

The reported sale price was $190 million.

It is yet another case of a billionaire buying an established publication.

Amazon CEO Jeff Bezos now owns the Washington Post, and a health care billionaire owns the Los Angeles Times.