Daily Washington Insider
  • Business
  • World
  • Science
  • Investing

Daily Washington Insider

  • Business
  • World
  • Science
  • Investing
Business

Marc Benioff is in talks to sell Time to Antenna Group

by admin November 3, 2024
November 3, 2024
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

0
FacebookTwitterGoogle +Pinterest
previous post
Prince William defends his ambitious plan to tackle homelessness in UK
next post
Astral’s Group Gold Mineral Resource Increases to 1.46Moz with Updated Feysville MRE

You may also like

Johnson & Johnson to pay $6.5 billion to...

May 4, 2024

Embraer CEO says jet maker studying possibilities for...

October 21, 2024

‘He’s like Iron Man’: Jensen Huang lit up...

June 10, 2025

Trump Organization sues Capital One bank over account...

March 11, 2025

Abortion bans drive away up to half of...

May 8, 2024

Gold jumps to record above $2,460 an ounce...

July 18, 2024

Pennsylvania Sen. Casey warns Amazon, Target and Walmart...

June 24, 2024

With Trump digital coins, billions of dollars —...

January 23, 2025

Boeing taps aerospace veteran Kelly Ortberg to replace...

August 1, 2024

Biden administration orders online banker Chime to pay...

May 9, 2024

    Stay updated with the latest news, exclusive offers, and special promotions. Sign up now and be the first to know! As a member, you'll receive curated content, insider tips, and invitations to exclusive events. Don't miss out on being part of something special.


    By opting in you agree to receive emails from us and our affiliates. Your information is secure and your privacy is protected.

    Popular

    • 1

      Tartana Drilling to Verify Upgrading of 45,000 Tonne Copper Resource

    • 2

      Magic mushrooms effective for treating depression – study

    • 3

      Lancaster Resources Welcomes Three Highly Experienced Industry Experts to Its Advisory Board

    • 4

      Hong Kong plans to install thousands of surveillance cameras. Critics say it’s more proof the city is moving closer to China

    • 5

      UN experts urge Thailand not to deport dozens of Uyghurs to China where they face ‘real risk of torture’

    Categories

    • Business (1,240)
    • Investing (3,182)
    • Science (605)
    • World (3,677)
    Footer Logo

    Disclaimer: dailywashingtoninsider.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 dailywashingtoninsider.com | All Rights Reserved