[Rumor] CNN To Buy Mashable For $200 Million
CNN is at the top of the business rumor mill this week. The Cable News giant is rumored to be ready to announce that they are going to purchase Mashable, one of the biggest online destinations for news and tips about social media, the web, and technology.
Reuters blogger Felix Salmon Sunday night in a video from the South by Southwest (SXSW) conference in Austin, Texas.
He said in the video,
“A little bird told me that CNN is going to announce the acquisition of Mashable for upwards of $200 million. Is this real? I don’t know, but it’s entirely plausible.”
The New York Times confirmed that CNN was in talks with the site and the talks had progressed to a very advanced stage. They also cautioned that the deal could still fall through and that there would probably not be an announcement by Tuesday.
CNN currently uses some of Mashable’s stories in syndication on CNN.com. Multiple news outlets have reported that the division of Time Warner would purchase the website for roughly $200 million dollars.
According to the website, Mashable has 20 million unique visitors per month and 4 million social media followers.
CNN currently is second in the cable news station rankings. It trails Fox News by a considerable margin with roughly 1/3 to 1/4 of the viewers of the conservative news station. An acquisition like Mashable could provide CNN with a more robust platform in order to expand their ratings and website presence.
do you think that CNN would be able to complete a deal for Mashable and do you think it would help their sagging ratings?