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CNN Reportedly Looking into Mashable Acquisition

Mashable CEO Pete Cashmore. © Jessica Grieves

A report out of South by Southwest (SXSW) this morning claims that CNN may be looking to bolster their online news offerings by purchasing popular social media news blog, Mashable.

The New York Times cites three sources in the know, who say CNN is in “advanced” acquisition talks with Mashable, and that an announcement could be made as early as tomorrow. Reuters blogger Felix Salmon first broke the story on Sunday, claiming that the purchase would go down for an estimated $200 million.

CNN has said that no such announcement would be made on Tuesday, but declined to further comment on the rumours. Mashable CEO Pete Cashmore sent an email to his team Monday morning, refuting the “rumor going around on Twitter that Mashable will be acquired this week”, but did not go so far as to rule out an acquisition at a later date. He also wrote that “We’ve had a great presence here [at SXSW] and I look forward to updating you guys when we get back,” indicating that he may have something to share with his team when SXSW wraps up.

The New York Times also spotted a bit of social media evidence Monday morning that hints toward the acquisition, as Adam Ostrow, Mashable’s executive editor, “liked” Felix Salmon’s original Reuters article on Facebook.