Mashable To CNN Sale May Be Imminent
The Mashable to CNN deal is heating up again, giving founder Pete Cashmore a good chance to make “More Cash,” if this rumor turns out to be true.
In March, The Inquisitr reported that CNN was apparently willing to spend upwards of $200 million for the popular Mashable website and according to the Business Insider, things are getting serious now:
Over the past few days, Mashable executives have been busily preparing for an acquisition by CNN, two sources say. One source tells us that Mashable has audited its finances and sent them to Turner [CNN’s parent]. ..This source also says Mashable executives have been holding meetings to discuss which Mashable divisions will be integrated into CNN and which will not be.
Business Insider’s source further claims that the deal has an “80%” chance of closing.
CNN television is setting records for low viewership, but the CNN website does well in terms of Internet traffic.
Mashable is a social media news reporting website that focuses on technology and social media. In 2011 Mashable’s pageviews surpassed tech competitor TechCrunch while its various social media conferences have continued to sell out.
Mashable bills itself as the largest independent online news site dedicated to covering digital culture, social media, and technology and claims more than 20 million unique monthly visitors.
Mashable founder and CEO Cashmore, the principal owner, has apparently not made an official comment on this latest sale rumor. Cashmore launched Mashable in 2005 from his home in Scotland.
Do you think it makes sense for CNN to integrate Mashable into its online operations? Does the Mashable valuation seem reasonable or completely out of line?