Marc Benioff & Wife Buy Time Magazine For $190m

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Salesforce.com chief Marc Benioff and his wife Lynne will buy storied US news magazine Time for $190 million, a company statement said Sunday.

"The Benioffs are purchasing TIME personally and the transaction is unrelated to Salesforce.com, where Mr. Benioff is Chairman, co-CEO and founder," a statement from the seller said.

They will not be involved in operations or journalistic decisions, "which will continue to be led by TIME's current executive leadership team.’’