CNN in 'advanced talks' to acquire Mashable for (gasp) $200 million


By John Glenday, Reporter

March 12, 2012 | 2 min read

Mashable, the social media aggregator that began life in a small Aberdeenshire town, could be poised to hit the Big Apple as rumours swirl around a possible CNN bid for the site for a reported $200 million or more.

Founded by Pete Cashmore, when he was just 19, the blog has gone on to accrue over 10m monthly views, putting it firmly in the sights of the US media giant.

Reuters reporter Felix Salmon says that CNN is buying Mashable for “upwards of $200 million”.

According to Salmon, the deal is poised to be announced today .

Earlier ,quoting people close to the discussions the New York Times reported that CNN was in “advanced talks” with Mashable over a buy out with an announcement expected as early as Tuesday.

Though cautioning that the deal may not ultimately transpire the paper noted that Adam Ostrow, Mashable’s executive editor, had ‘liked’ on Facebook a Reuters story on this very issue.

CNN acquired iPad magazine publisher Zite for for $20 million to $25 million back in August 2011. Mashable launched its iPad app earlier this month.

Salmon in a brief video report does say he doesn’t know for sure, but that the deal is ‘entirely plausible’. It is, if only because CNN and Mashable have been in bed for several years. Pete Cashmore, the Scottish founder and CEO of Mashable, is even described by CNN as ‘Special to CNN’ when he writes columns for the media giant.


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