Marc Benioff acquired Time Magazine in 2018 for $190 million|Global Climate Action Summit 2018|CC BY 2.0
The Salesforce co-founder, Marc Benioff, is reportedly discussing the sale of the American magazine to the Greek media company Antenna Group, per CNBC.
Benioff acquired Time in 2018 for $190 million. Sources close to the companies say the initial Antenna talks focused on a price of $150 million.
The Greek company, which has mainly focused on Europe, tried acquiring US entities in the past, including losing a bid to buy Vice Media in 2022.
Although neither party has confirmed the negotiations or any deals, the news comes at a time of struggle for legacy media companies.
Traditional media outlets face heavy competition from free digital media platforms like YouTube and TikTok, and many are adjusting strategies, including Comcast, which is considering a spinoff of its cable network.