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Salesforce chief Marc Benioff, spouse Lynne to purchase Time.

The Benioffs said Sunday they’ll purchase the 95-year-old newsmagazine for $190 million from owner Meredith Corp., which place the name on the block in March. The purchase is expected to shut in thirty days.

“The energy of the time is definitely with its storytelling that is unique of individuals & problems that affect all of us & connect all of us. A treasure trove of y our history & tradition. We’ve deep respect due to their company & honored to be stewards of the brand that is iconic” Marc Benioff had written on Twitter.

Marc Benioff co-founded Salesforce, now San Francisco’s largest employer that is private in 1999. Read more »