CNN In Talks to Acquire Mashable
What happens at South By Southwest reaches those in Austin and simultaneously spreads like lightning around the world, especially when the news is as interesting as this: CNN, a division of Time Warner, is in talks to buy the social media and technology giant, Mashable. Early sources say the acquisition may be as high as $200 million dollars.
It is not out of the realm of possibility that Mashable will indeed be acquired by CNN, even though as we all know major acquisitions like this take time and can mean a lot of changes to staff and even to a company’s content and direction. There is a lot to take into consideration, to be sure. Mashable and CNN, though, already have a working relationship as Pete Cashmore, Mashable’s founder, pens regular content for CNN.com and regularly appears on CNN’s technology segments. Additionally there is a current trend of large media companies doing a land grab for the most viable independent news and niche sites on the web including TechCrunch going to AOL, ReadWriteWeb going to SAY Media, and even Circle of Moms going to Sugar, INC.
According to Reuters an announcement may be made as early as Tuesday morning.