Asked by: Antonetta Ruk
asked in category: General Last Updated: 21st January, 2020

Has Time magazine been sold?

Time Magazine, the storied publication whose cover images for decades helped shape the national conversation, has been sold to a Silicon Valley billionaire. The sale comes months after Des Moines-based Meredith, owner of Family Circle and Better Homes & Gardens, completed its purchase of Time Inc. for $2.8 billion.

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Also asked, when was Time magazine sold?

magazines. Meredith agreed to purchase Time Inc. in an all-cash transaction valued at $2.8 billion last November, and the deal was made final on Jan. 31.

Also Know, is Time magazine going out of business? Gold. And with that, Time Inc. is gone. Once America's great magazine company, the much-reduced publisher was bought by Iowa's Meredith Corp. last year, with $650 million in equity from Koch Industries.

Keeping this in view, what company owns Time magazine?

Marc Benioff

Is Time magazine profitable?

Time generated revenue of $173 million in 2017, and operating profit of $33 million, according to the people, who reviewed an offering document used in the transaction process. The Benioffs are paying around 5.76 times operating profit for Time magazine.

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