Sep 16, 2018

Marc Benioff buys Time Magazine for $190 million

Cover of Time magazine in 2008. Photo: Chris Hondros/Getty Images

Marc Benioff, the co-founder of Salesforce.com, and his wife Lynne have bought Time Magazine from Meredith Corp. for $190 million, Benioff confirmed to Axios.

The details: The purchase, first reported by the Wall Street Journal, comes less than a year after Iowa-based Meredith Corp. acquired Time Inc. for $2.8 billion. CNN's Brian Stelter reports that the Benioffs will not be involved in day-to day editorial functions. Benioff confirmed the purchase in a tweet, saying, "We have deep respect for their organization & honored to be stewards of this iconic brand."

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Coronavirus stress tests drug industry's dependence on China

A Hong Kong commuter wears a face mask. Photo: Miguel Candela/SOPA Images/LightRocket via Getty Images

It's unclear whether the rapid spread of the novel coronavirus will actually result in prescription drug shortages, but it has undoubtedly highlighted the potential vulnerabilities of having the supply chain for American drugs so dependent on China.

Driving the news: About 150 prescription drugs — including antibiotics, generics and some branded drugs without alternatives — are at risk of shortage if the coronavirus outbreak in China worsens, per two sources familiar with a list of at-risk drugs compiled by the Food and Drug Administration.

Go deeperArrow51 mins ago - Health

Bernie's path to the presidency

Sen. Bernie Sanders speaks yesterday during a rally at Houston University. Photo: Mark Felix/AFP via Getty Images

Lots of Democrats are in full panic that Bernie Sanders will win the nomination and get clobbered in the general election — and bring the party down, too. But the evidence, particularly the polling, doesn't back those doomsday warnings.

Why it matters: Virtually every national and swing state poll shows Sanders tied with or beating President Trump.  And, unlike every rival, he has a huge base of fervent, unshakable supporters he can only grow.

These swing voters don't like Trump’s environmental rollbacks

Illustration: Sarah Grillo/Axios

Swing voters in four battleground states decisively oppose President Trump’s sweeping rollbacks of environmental regulations — but it’s unlikely to sway their votes.

Why it matters: It’s voters living in states like these, including Florida and Pennsylvania, who fill pivotal roles electing America’s presidents, so we should listen.