CNN in talks to buy technology news site Mashable for $200 mn: report
13 March 2012
CNN is in talks to buy social media and technology news site Mashable for more than $200 million, according to several media reports.
CNN, owned by Turner Broadcasting System, a Time Warner Company, is said to be in advanced talks to acquire Mashable, and the deal could be closed as early as today, Reuters blogger Felix Salmon yesterday said, citing an unnamed source.
The news was later confirmed by The New York Times, which said that the two companies were in advanced talks.
Mashable was founded in 2005 in Aberdeenshire in Scotland, by college drop-out Pete Cashmore, as a blog focused on up-to-the-minute news on social networks and digital trends.
Since then, Mashable quickly grew to be one of the top 10 and most profitable blogs in the world and has 20 million monthly unique visitors and 4 million social media followers, who have become one of the most engaged online news communities.
Mashable also syndicates its content to top publications including ABC News, CNN, Metro, USA Today and Yahoo! News.