Rumor: CNN to buy Mashable for $200 million

CNN set to close largest tech news acquisition

A rumor has circulated as SXSW that CNN is getting ready to acquire Mashable for $200 million. Reuters blogger Felix Salmon has posted a quick report saying that he had been told by 'a little birdy' that CNN is on the verge of purchasing the social media blog. According to Salmon, a source tells him that the announcement is expected on Tuesday.

Mashable was founded by Pete Cashmore in 2005 and typically picks up around 15-20 million unique monthly visitors. When it was founded, Cashmore focused on delivering technology and social media news. However, the site has since evolved to cover business and entertainment news.

According to the New York Times, CNN officials have so far denied that any announcement will be made on Tuesday. CNN last acquisition was Zite, a start-up that developed an iPad app learns what users want to read. CNN is reported to have paid in the vicinity of $20 million for app.

If the rumored buyout of Mashable materializes, it will be the most expensive purchase yet made for a tech news website by some margin. By way of comparison, when AOL purchased TechCrunch back in 2010 it paid $25 million to secure the deal.

Login Here

Not a member of the MacNN forums? Register now for free.