CNN, the struggling cable news network, has been rumored to be in acquisition mode over Mashable.com, originally started by Pete Cashmore in 2005.
If the reports are true, then CNN could make history with its largest buyout ever at 200 million for the popular social media news blog, Mashable. CNN, a Time Warner company, is reported to be in advanced talks on the sale.
Felix Salmon, a Reuters blogger was reporting from South by Southwest, a conference in Austin Texas, stated that the sale could be announced by Tuesday, confirming news from The New York Times on Monday regarding the advanced talks.
Mashable started out as a technology and social media trend focused blog, but expanded into entertainment and business methods in the later years. In comparison to AOL purchasing the Huffington Post about this time last year, it seems the old legends are quickly trying to amass new media and keep their models current.
Over 20 million unique visitors monthly at Mashable, and offices in New York and San Francisco, it claims syndication partners through CNN, ABC News, and Yahoo!