archive with the unformatted text for every article published. The articles are indexed and were converted from scanned images using optical character recognition technology. The minor errors in the text are remnants of the conversion into digital format. In January 2013, Time Inc. announced that it would cut nearly 500 jobs – roughly 6% of its 8,000 staff worldwide. Although Time magazine has maintained high sales, its ad pages have declined significantly over time. Also in January 2013, Time Inc. named Martha Nelson as the first female editor-in-chief of its magazine division. In September 2013, Nancy Gibbs was named as the first female managing editor of Time magazine. In November 2017, Meredith Corporation announced its acquisition of Time, Inc., backed by Koch Equity Development. In March 2018, only six weeks after the closure of the sale, Meredith announced that it would explore the sale of Time and sister magazines Fortune, Money and Sports Illustrated, since they did not align with the company's lifestyle brands. In 2017, editor and journalist Catherine Mayer, who also founded the Women's Equality Party in the UK, sued Time through attorney Ann Olivarius for sex and age discrimination. The suit was resolved in 2018. In September 2018, Meredith Corporation announced that it would re-sell Time to Marc Benioff and his wife Lynne for $190 million, a transaction completed on October 31. Although Benioff is the chairman and co-CEO of Salesforce.com, Time was to remain separate from that company and Benioff would not be involved in the magazine's daily operations. The sale was completed on October 31, 2018. Time USA LLC, the parent company of the magazine, is owned by Marc Benioff. Time Canada From 1942 until 1979, Time had a Canadian edition that included an insert of five pages of locally produced content as well as occasional Canadian covers. Following changes in the tax status of Canadian editions of American magazines, Time closed Canadian bureaus, except for Ottawa, and published identical content to the US edition but with Canadian advertising. In December 2008, Time discontinued publishing a Canadian advertiser edition. Circulation During the second half of 2009, the magazine had a 34.9% decline in newsstand sales. During the first half of 2010, another decline of at least one-third in Time magazine sales occurred. In the second half of 2010, Time magazine newsstand sales declined by about 12% to just over 79,000 copies per week. As of