Tech Giant Becomes Time Magazine Savior

Marc Benioff claims that he is neither a Republican nor a Democrat. However, the support previously given to president Obama points to a party according to a critic from a media group. Nevertheless, Marc and his wife have come to the rescue of the old media. The sale force co-founder is apparently buying the Times Magazine for $190 million. The procuring is one of the latest bailing activity of the old Media by tech tycoons. The bailing of the magazines is an illustration of the falling experience by the journalism department. As a consequence, dwindling circulation job cut and crumpling revenue is felt. With this, it only takes the wealthy like Benioff who have more than about $6 billion to fund the tumbling liberal outlet according to the media research facility’s vice president.

Just like the other media, Times has writhed with a decline in advertisements, lithography, and even newsstand sales. After six months in third June, Times had sliced its flow to 2.3 million from three million accounted over the same period in the previous year. This is according to a report from the Wall Street Journal. However, marc praised the times for the exceptional storytelling that he termed it as a wealth trove of principles and history. The acclamations came even despite the wearying numbers of circulation. Hence Marc Benioff is not interested in making significant changes in the free setup of the magazine.

Among other technologies, billionaires who have made history in buying the media centers are Jeff Bezos who acquired the Washington post in the year 2013. Soon-Shiong bought the Los Angeles times just early this year. Also in the list is Apple legend who purchased a majority stake in Atlantic in the past year. Besides engaging in the media businesses, the tech hulks have directly involved in politics. For instance, Powell Jobs sponsored attack advertisements targeting the administration of President Trump. Despite Bezos not being opinionated, he also has been criticizing the way Trump treats the press. On the other hand, Soon-Shiong has strong bonds to former VP Joe Biden.

Apart from engaging in other political and commerce activities, Jeff McCall believes that there can be important news when the moguls take over the collapsing media to provide permanence and resources. Besides, the professor also thinks that the tycoons are interested in keeping media voices alive as well as reaching for quality journalism. The question of investing in the expectations of good returns is not the aim of the tech giants according to Jeff. While Benioff is dynamic about the diversity of generous social matters, he also proves that he does not lark behind his tycoon peers. For example, Benioff made a tweet congratulating Trump after the unanticipated victory over Clinton.