CNN, a unit of Time Warner will buy independent online news website Mashable for more than USD200 million, say sources. Reuters’ reporter Felix Salmon found out from undisclosed sources about this deal which will supposedly become official on Tuesday. As of now, neither CNN representatives, nor the spokeswoman for Mashable wanted comment on the announcement.
However, there are another three individuals, internal sources that required anonymity, that confirm this transaction. It is however possible that the acquisition will not be completed, some of the sources cautioned.
CNN seems to be on a consolidating position spree, as it acquired iPad magazine publisher Zite for for USD20 million to USD25 million back in August 2011. Mashable also recently launched an iPad app. Moreover, Mashable made some partnerships with news sites, including CNN and ABC News, and CNN already syndicates some of the social media website’s articles.
As anyone probably knows, Mashable publishes articles that explain in simple terms accessible to everybody issues related to social media and technology, and recently expanded their interest areas to business and entertainment. The site has a big and growing number of visitors, about 20 million monthly uniques.
There were rumors in the past regarding Mashable’s acquisition. AOL was said to be interested in buying Mashable as well, but that deal never materialized.
Several other blogs have been bought in the recent past – though not for such an impressive amount. AOL acquired TechCrunch, SAY Media bought ReadWriteWeb, and GigaOm purchased the parent company of PaidContent.
If CNN buys Mashable, it will only strengthen its position on the market, as it is very hard today to stay in the top without always adjusting to new trends and improving. Acquiring a very popular blog, such as Mashable, is a step forward, as the news site is already a brand that attracts readers.
Here is Reuters’ reporter Felix Salmon video with the, yet unofficial, news.