CNN plans to buy Mashable for more than $200 million, reports say (Video)

By on Mar 12, 2012 in Business, Technology, United States Comments

CNN, a unit of Time Warner, is reportedly planning to buy Mashable for over $200 million, as revealed by Reuters blogger Felix Salmon, as shown in the video below.

According to Salmon, who was then reporting from Austin, Texas during the South by Southwest (SXSW) conference, a ‘little bird’ told him that the CNN will acquire Mashable for more than $200 million.

As noted on his report, his unnamed source said that the ‘CNN Mashable‘ deal is being expected to be announced by CNN this Tuesday, March 12, noting that the technical website has now about 20 million monthly unique visitors.

Nevertheless, New York Times also reported the same news that day but noted that people with knowledge of the talks who requested not to be named because they were not authorized to speak by their employers, cautioned that the acquisition is unlikely to be finalized.

Apparently, the paper said that CNN officials have denied on early Monday that an announcement would be made on Tuesday and declined to comment on the potential acquisition, while a spokeswoman for Mashable also declined to comment.

Based on the history of Mashable, it was founded in 2005 by Pete Cashmore in Aberdeenshire, Scotland, with its headquarters located in New York City and has additional offices in San Francisco.

As of this writing, Mashable, known for being among the biggest sources of news and tips about social media, the Internet, and technology, has over 840,000 Facebook fans and more than 103,000 Twitter followers.

Is CNN buying Mashable? – A report by Reuters blogger Felix Salmon
Video Credit: ReutersTV/YouTube

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