Antenna Group is in discussions to acquire Time from Marc Benioff.

• Marc Benioff has started negotiations with the Antenna Group to sell Time.
• No deal is assured and the discussions are still early.
• Benioff acquired Time for $190 million in 2018.

Sources close to the matter reveal that Antenna Group is in discussions with Marc Benioff to purchase Time.

The discussions are ongoing, and no assurance of a deal has been reached, according to sources who requested anonymity due to the confidential nature of the talks.

A Time spokesperson stated that there is no agreement to sell Time, and they declined to discuss the talks with Antenna. Antenna Group did not respond to requests for comment.

In 2018, Benioff bought Time for $190 million, and now early discussions with Antenna are focusing on a possible sale price of $150 million.

Amid competition with free digital services such as YouTube, TikTok, and Instagram, legacy media companies are struggling to stay afloat as they try to adapt to the changing landscape.

The Washington Post, owned by Jeff Bezos, has lost over 10% of its subscribers after not endorsing a presidential candidate, reports NPR.

Lynne and Benioff purchased Time from Meredith Corp., who had owned the magazine for only a short period.

At the time, Alan Murray, chief content officer of the Time Inc. brands at Meredith, stated that the Benioffs were the best fit, prioritizing journalistic integrity over corporate profits.

In 2022, Vice Media was almost acquired by The Antenna Group before declaring bankruptcy. Although most of its investments have been in Europe, it has also invested in Thrive Global, founded by Arianna Huffington.

Disclosure: Comcast owns NBCUniversal, the parent company of CNBC.