In a statement, the Des Moines-based Meredith echoed that Time would maintain editorial independence, and made it clear that the deal had nothing to do with Salesforce.Įdward Felsenthal, the top editor at Time, led the search for a buyer of the 95-year-old newsmagazine. Pecker, a confidant of President Trump and chief executive of American Media Inc., publisher of The National Enquirer, to purchase three Time Inc. Meredith had fended off offers from multiple suitors, including a more than $325 million offer from David J. Murray said, adding that the couple would help the title “further make the transition into the digital world, but don’t want to get involved” in editorial decisions. “They’re not looking for private-equity returns,” Mr. brands at Meredith, said that, after dozens of meetings with suitors - “I don’t have enough fingers and toes to count them,” he said - the Benioffs emerged as the best fit, willing to put journalistic integrity ahead of corporate gains. But in recent years, the economic headwinds facing the magazine industry have become a gale force.Īlan Murray, the chief content officer of the Time Inc. alumni, have pounded the pavement looking for the right owner. Since March, Meredith executives, led by Time Inc.
