CNN Could Acquire Mashable (Report)

 

CNN is in the midst of the potential acquisition of Mashable, a website largely devoted to coverage of social media and technology, The New York Times reports.

The Time Warner-owned news brand is in "advanced talks" with Mashable for a potential buy, sources told the Times while also cautioning that such a deal might not come to fruition.

Mashable, which launched in 2005, has made a name covering startups and social networks such as Facebook, Twitter and YouTube, in addition to tech-industry news. If CNN.com were to acquire the site, it could gain more prominence -- and credibility -- within the internet startup community.

"We do not engage in speculation about our business and we aren't commenting on these reports," a CNN.com spokesman told THR on Monday.

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Meanwhile, CNN-Mashable chatter has been widespread at the South by Southwest tech-and-entertainment confab in Austin, Texas, where both companies have been hosting events. There has been no official confirmation as to the talks, and CNN denied a Sunday-night report by Reuters that an announcement could come Tuesday.

CNN.com previously acquired Zite, a web app that curates content for users on iPads and iPhones, for somewhere in the ballpark of $20-to-$25 million; Mashable has forged content partnerships with such outlets as ABC News and CNN, with which the site has a syndication deal.

 

 

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