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After Fetching a High Price, Time Magazine Moves Into a New Era

When Time magazine started in 1923, it hit upon a popular formula: short, punchy items that aggregated the week’s events and came in an entertaining package. But the newsweekly could never compete with the digital version of its own blueprint: the internet’s bloggers, explainers, listicles and 30-second videos.Time’s sales and profits, like those of most print publications, have been shrinking every year, a situation that made it difficult to sell the magazine, even with its storied past.In March, Meredith, which agreed to buy Time Inc. in November, announced that it would put Time magazine up for sale, along with Sports Illustrated, Fortune and Money. After nearly six…

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A San Francisco Tech Mogul Buys a Fabled Slice of New York Media

As a result of his support for a variety of local school projects, Mr. Benioff has largely escaped the withering criticism that other tech billionaires, such as Bill Gates and Mark Zuckerberg, have faced for their school initiatives.“Other billionaires tend to hop around different places, leaving half-completed reforms in their wake,” said Sarah Reckhow, an associate professor of political science at Michigan State University who studies philanthropy. “It will be interesting to see if his education investments have more staying power.”Mr. Benioff is not as dramatic in his display of wealth as Mr. Ellison, who is a collector of costly cars, homes and yachts — and a…

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