Recent discussions have surfaced regarding the potential acquisition of the prestigious magazine, Time, by the Greek media company Antenna Group. These talks, still in their infancy and reportedly confidential, involve Salesforce co-founder Marc Benioff, the current owner of Time, who purchased the publication in 2018 for approximately $190 million. Insiders indicate that negotiations have revolved around a price closer to $150 million, but a definitive agreement remains unestablished.
The conversations between Antenna and Benioff are unfolding during a challenging period for traditional media outlets. As digital platforms like YouTube, Instagram, and TikTok continue to dominate the media consumption landscape, legacy companies are finding it increasingly difficult to maintain their audiences and financial viability. For example, Comcast has recently hinted at spinning off its cable network, a clear sign of the evolving strategic shifts within the media sector. Similarly, The Washington Post has reported significant subscriber losses, highlighting the hurdles faced by well-established news organizations when navigating the complexities of modern media.
Marc and Lynne Benioff’s acquisition of Time was marked by a commitment to uphold journalistic integrity, distinguishing them as a suitable choice for the magazine when they purchased it from Meredith Corp., which had a brief ownership tenure. Their focus was ostensibly on preserving the publication’s legacy rather than prioritizing immediate corporate profits, a stance that resonated with industry observers. However, just five years later, the prospect of selling the magazine in a market increasingly tilted toward fast-paced digital content raises questions about the sustainability of their original vision.
Antenna Group has a history of media investments primarily focused within Europe, although its attempted acquisition of Vice Media in 2022 showcased its ambitions beyond that boundary. The group’s interest in acquiring Time reflects a broader strategy to strengthen its position in the global media market. Meanwhile, its investments—such as in Arianna Huffington’s Thrive Global—demonstrate an adaptive approach to the transformation of content delivery in the 21st century. Acquiring Time could further diversify Antenna’s portfolio and lend it a significant foothold in the U.S. media landscape.
This potential acquisition highlights a crucial point at which traditional media intersects with new market realities. As negotiations progress, the outcome could set a precedent for how legacy media assets are valued and managed in light of ongoing shifts in consumer behavior and content consumption. It remains to be seen if Antenna can breathe new life into Time, a publication with a storied history, or if it will serve as yet another marker of the challenges legacy brands face in an ever-changing digital environment. The outcome of this situation is poised to have far-reaching implications—not just for Time or Antenna Group, but for the entire media industry as it grapples with the demands of a new readership.