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posted by martyb on Monday September 17 2018, @06:41PM   Printer-friendly
from the AOL-Time-Warner dept.

Phys.org:

Time Magazine is being sold by Meredith Corp. to Marc Benioff, a co-founder of Salesforce, and his wife, it was announced Sunday.

Meredith announced that it was selling Time magazine for $190 million in cash to Benioff, one of four co-founders of Salesforce, a cloud computing pioneer.

Meredith had completed the purchase of Time along with other publications of Time Inc. earlier this year.

The Benioffs are purchasing Time personally, and the transaction is unrelated to Salesforce.com, where Benioff is chairman and co-CEO and co-founder. The announcement by Meredith said that the Benioffs would not be involved in the day-to-day operations or journalistic decisions at Time. Those decisions will continue to be made by Time's current executive leadership team, the announcement said.

Tech wealth continues to swallow up old media. Will old media improve?


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  • (Score: 2) by Freeman on Monday September 17 2018, @07:47PM (2 children)

    by Freeman (732) on Monday September 17 2018, @07:47PM (#736148) Journal

    A magazine is like an out-dated website, printed on dead trees, using possibly toxic ink.

    --
    Joshua 1:9 "Be strong and of a good courage; be not afraid, neither be thou dismayed: for the Lord thy God is with thee"
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  • (Score: 1, Informative) by Anonymous Coward on Monday September 17 2018, @08:14PM (1 child)

    by Anonymous Coward on Monday September 17 2018, @08:14PM (#736158)

    Magazines were outdated newspapers back in the day, but their role was to investigate stories in depth. That's not the role mainstream American journalism sees itself in anymore. Nowadays it's all about the best zinger, the best diss and the most "likes" and retweets.

    • (Score: 2) by VLM on Monday September 17 2018, @08:24PM

      by VLM (445) Subscriber Badge on Monday September 17 2018, @08:24PM (#736160)

      Carefully curated picture-books is another genre.

      Pr0n is self organizing by the community, mostly, so pr0n mags are no longer needed, just go to the subreddit of your choice. Rumor has it that 99% of reddit traffic is pr0n, then the remainder is 99% freaky SJW degeneracy, but theres just so much traffic theres supposedly real communities out there. I followed /r/mechanical_keyboards or whatever it was called for awhile, but there's no way to sustain interest past the first thousand posts. I'm typing this at 100WPM on a genuine original equipment model M plugged into a USB converter (not adapter, back in the old days adapters didn't work) and that goes into a switchbox into mutiple machines on my desk.

      Some hobbies benefit from editing and quality pictures; think of stereotypical crafty stuff.

      The biggest problem for "the magazine of XYZ" is the pyramid shape of craft XYZ skills means its pretty unlikely to have long term readers unless its a VERY wide base to pull from. So fine woodworking in the sense of "we send you new plans every month" and ham radio in the sense of "technology changes faster than people can get sick of reading about the old stuff" are OK.

      I have a bookshelf with every issue of Make magazine ever produced, its a couple feet. Kinda interesting when I'm bored to pull an issue out and re-read it.