Connect with us

Hi, what are you looking for?

Latest News

Marc Benioff is in talks to sell Time to Antenna Group

The Greek media company Antenna Group is in talks to acquire Time from Salesforce co-founder Marc Benioff, according to people familiar with the matter.

No deal is assured and the talks are still early, said the people, who asked not to be named because the discussions are private.

“There is no agreement to sell Time,” said a Time spokesperson, who declined to comment on the talks with Antenna. An Antenna Group spokesperson didn’t respond for comment.

Benioff acquired Time in 2018 for $190 million. Early talks with Antenna have centered around a price of $150 million, one of the people said.

The talks come at a particularly turbulent time for legacy media companies, which are trying to stay afloat as digital-first assets amid competition with free services such as YouTube, TikTok and Instagram.

Comcast announced Thursday it is considering a spinoff of its cable network group. The Washington Post, owned by fellow tech billionaire Jeff Bezos, has lost more than 10% of its subscribers in recent days after deciding it wouldn’t endorse a candidate in the U.S. presidential election, according to NPR.

Benioff and his wife, Lynne, bought Time from Meredith Corp., which owned the magazine for less than a year.

“The Benioffs emerged as the best fit, willing to put journalistic integrity ahead of corporate gains,” Alan Murray, chief content officer of the Time Inc. brands at Meredith, said at the time.

The Antenna Group nearly acquired Vice Media in 2022 before the company declared bankruptcy. Most of its investments have been Europe-centric, though it has invested in Arianna Huffington’s technology company Thrive Global.

Disclosure: Comcast owns NBCUniversal, the parent company of CNBC, NBC News and MSNBC.

Correction: This article has been updated to correct the name of media company Time.

This post appeared first on NBC NEWS

Enter Your Information Below To Receive Free Trading Ideas, Latest News And Articles.






    Your information is secure and your privacy is protected. By opting in you agree to receive emails from us. Remember that you can opt-out any time, we hate spam too!

    You May Also Like

    Editor's Pick

    Former president Donald Trump and his allies have filed hundreds of lawsuits, with more to come, seeking to tighten voting rules or disqualify voters....

    Economy

    LONDON (Reuters) – Bank of England interest rate-setter Megan Greene said she still believed the central bank should take a cautious approach to cutting...

    Editor's Pick

    Sister Stephanie Schmidt had a hunch about what her fellow nuns would discuss over dinner at their Erie, Pennsylvania, monastery on Wednesday night. The...

    Latest News

    Warner Bros. Discovery said Thursday its streaming platform Max added 7.2 million global subscribers in the third quarter. It marked the biggest quarterly growth for...

    Disclaimer: beneficialinvestmentnow.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.


    Copyright © 2024 beneficialinvestmentnow.com