Another tech billionaire put his money into print media
Where Jeff Bezos goes, other techs that are extremely rich take after. The most recent titan to put resources into print media is Salesforce founder Marc Benioff who, alongside spouse Lynne, is purchasing Time magazine. The duo is utilizing $190 million from their own fortune to purchase the regarded title from current proprietors, Meredith.
Meredith has said that the Benioffs won’t be straightforwardly required with the title, and will have nothing to do with its article choices. It’s presumable that the pair will utilize their cash and skill to enable Time to enhance its activities and, by expansion, its primary concern of the print media.
The WSJ trusts that the title comes to more than 30 million individuals every month, while its present proprietors put that figure more like 100 million.
Benioff has said that Time is a company that has a “tremendous impact on the world,” and is also an “incredibly strong business.” He added that Time’s power was in its “unique storytelling of the people and issues that affect us all.”
The pattern of tech billionaires putting little measures of money into print media is hotting up. In 2013, Amazon organizer Jeff Bezos purchased The Washington Post for $250 million. In the next years, the production has turned out to be beneficial and made Bezos a political player.
A year ago, Laurene Powell Jobs, Steve Jobs’ dowager, acquired a stake in The Atlantic through her Emerson Collective Organization.
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