What you need to know in advertising today
The sale comes just eight months after Meredith Corp., which publishes such titles as People, Better Homes and Gardens, and Entertainment Weekly, completed its purchase of the iconic magazine.
Meredith also listed several other titles, including, Fortune, Money, and Sports Illustrated, though negotiations for those publications continue to drag on, according to the Wall Street Journal.
The sale is expected to close with 30 days, according to the Journal, and the Benioffs are buying the outlet as individuals.
Click here to read more about Benioff's plans for Time.
In related news, the deal could drag tech deeper into Trump's firing line.
In other news:
Biotech billionaire and Los Angeles Times owner Patrick Soon-Shiong is talking to newspaper chain McClatchy about buying Tronc. He had previously been in talks to team up with a hedge fund manager for Tronc, but those discussions are now seen as less likely.
Here's the backstory of everyone who appeared in the new Nike ad featuring Colin Kaepernick. The ad features 16 athletes with inspirational stories, including a 10-year-old wrestler, a Paralympian wheelchair basketball player, and a high school linebacker and homecoming queen.
Generation Zs reveal their 100 favorite brands. They prefer brands that are healthy, socially-conscious, and connected with influencers on platforms like YouTube, Instagram and Snapchat.
Facebook is losing its grip on users' attention. Compared with a year ago, time spent on the social network has fallen by almost 7%, according to an analysis of new Nielsen data.
Companies like IKEA and Accenture are following in Google's footsteps to stay ahead of the curve. The companies are setting up innovation labs that are designed to attract the brightest minds in technology.