14 March 2012 - 2:26am | posted by | 0 comments

Mashable: We keep hoping for the happy ($200 million) ending

Cashmore: squelches "this week" rumour Cashmore: squelches "this week" rumour

So what is the story with Mashable? For those with a belief in fairy tales, the happy ending could be that CNN will buy it for $200 million - but not yet.

That is certainly the view of Reuters blogger Felix Salmon although some others say the deal is " not likely to be announced this week."

The Wall Street Journal is much more low key. "The talks aren't in an advanced state and it is possible no deal will be reached… And if an agreement is reached, CNN is unlikely to pay anywhere near $200 million."

That could of course be true or it could be that they didn't get the story first.

CNN spokeswoman Christa Robinson says: "We do not engage in speculation about our business and we aren't commenting on these reports."

A Mashable spokesperson was not immediately available.

So that means the deal IS on.

Mashable's founder and chief executive Pete Cashmore, from Aberdeenshire, didn't respond to a request for comment. But in a memo to Mashable employees on Monday, he denied that a deal was imminent.

"There's rumour going on Twitter that Mashable will be acquired this week," he wrote. "I just wanted to let you know this isn't true."

Founded in 2005 when Cashmore was 19 years old and living in Scotland, Mashable.com, now based in New York, syndicates its stories on other mainstream news sites, from ABC News to USA Today.

Cashmore has had a relationship with CNN for almost two years. Mashable contributes content to CNN.com and he also writes a weekly column. Friends, definitely. Partners, maybe.

So watch this space . . . next week.

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