DailyTimeCapsule brief
September 17, 2018
On September 17, 2018, Marc Benioff, billionaire co-founder of Salesforce, acquired Time Magazine, marking a significant moment in media ownership dynamics. This acquisition came amidst a broader context of the technology sector's increasing influence over traditional media, as digital platforms began to reshape information consumption. The deal was perceived as a strategic move by Benioff to bolster journalistic integrity in an era characterized by rampant misinformation and declining trust in news sources. Meanwhile, cultural and literary discussions were emerging around Esi Edugyan's novel 'Washington Black,' which follows the journey of an escaped slave via a hot-air balloon, further highlighting contemporary conversations about race and identity. In Europe, climate change was garnering attention as scientists utilized Swiss glaciers to document historical weather patterns, symbolizing the continent's ongoing struggle with both environmental triumphs and challenges.
Key developments
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In 2020, Marc Benioff, the billionaire founder of Salesforce, and his wife acquired the iconic publication Time Magazine for $190 million. This purchase came less than a year after Time had been sold to the Iowa-based Meredith Corporation, highlighting the quick turnover in media ownership. Benioff's acquisition is part of a larger trend of tech magnates investing in traditional media outlets amidst the evolving landscape of news and journalism.
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In Esi Edugyan’s Novel ‘Washington Black,’ a Slave Escapes by Hot-Air Balloon
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Europe’s Triumphs and Troubles Are Written in Swiss Ice
