Monday, March 12, 2012

CNN to buy Mashable for around $200 million, report

Rumors of the potential acquisition becomes talk of the town aat South by Southwest conference

This could be the news of the 2012 South by Southwest conference: CNN is set to pay more than $200 million to buy social media blog Mashable, according to Reuters blogger Felix Salmon.

Salmon, who is attending the Austin conference, says that "a little bird" told him that CNN will announce the deal on Tuesday. If the deal goes through as rumored, it would be an amazing coup for Mashable founder, Pete Cashmore, who founded the blog in July 2005. The site draws about 20 million monthly unique visitors

The New York Times confirmed the existence of the talks but quoted sources saying that the negotiations are not complete. For what it's worth, one of the editors at Mashable, Adam Ostrow, "liked" on Facebook, the Reuters story.

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