Bolstered by iPhone 14 sales, Apple reported fiscal Q4 revenue up just over 8 percent, to $90.1 billion, with a 7.8 percent increase to $394 billion for the 12-month sales session that ended September 24. “We set an all-time revenue record for Mac and September quarter records for iPhone and wearables, home, and accessories,” Apple CEO Tim Cook told analysts, noting “services notched a September quarter record as well, with revenue of $19.2 billion and more than 900 million paid subscriptions.” Even so, the company’s earnings produced a Rashomon effect as peak performance triggered pique among some. Continue reading Apple Has Record Quarter but Slowed Growth Worries Some

Reese Witherspoon’s media business, Hello Sunshine, valued at about $900 million, has sold to a unnamed firm supported by Blackstone Group, which is spending $500+ million in cash to purchase shares from existing investors, including AT&T and Emerson Collective. Terms of the deal were not disclosed. Former Disney executives Kevin Mayer and Tom Staggs will run the unnamed media company backed by Blackstone, while Witherspoon and chief executive Sarah Harden will join the board of the new venture and continue to oversee the day-to-day operations of Hello Sunshine. Continue reading Hello Sunshine Sold to New Media Company for $900 Million

Meredith purchased Time Inc. only eight months ago, but now has agreed to sell Time magazine to Salesforce co-founder/chair and co-chief executive Marc Benioff and his wife Lynne Benioff, for $190 million. The couple is buying the magazine as individuals, unrelated to Salesforce, and the deal is expected to close within 30 days. The Benioffs have said they will not play a role in the magazine’s day-to-day operations or its journalistic decisions. They also have no plans to purchase any other magazine titles from Meredith. Continue reading Salesforce Chair Marc Benioff Buys Time Magazine for $190M