A sale of digital-media platform Mashable could be in the offing following reports that the site has opened ‘extensive’ negotiations in relation to a potential sale.
Reports in the Wall Street Journal suggest that German broadcaster and media conglomerate ProSiebenSat.1 is the interested party, angling for a full takeover of the business which has struggled to raise capital from investors amid a persistent failure to turn a profit.
Instead ProSiebenSat’s interest has been sparked by a desire to turbocharge its own push into digital media which currently includes the Studio71 digital network and a stake in online-video aggregator Pluto TV.
This dovetails with its longheld ambition to 'pivot to video' including the recent launch of six channel apps emphasizing live TV and free streaming.
Mashable has been in the throes of an executive exodus of late after being forced to part company with 30 employees upon securing less funding than hoped for. This came after the business suffered a net loss of $10m in 2016 – despite a 36% rise in revenues to $42m.
No firm figures have been given for a potential sale although Mashable’s most recent valuation was $250m during a funding round last year.