CNN rumored to buy Mashable for $200 million
CNN may be prepared to make one of its biggest acquisitions to date.
The news giant is reportedly ready to announce that it will be acquiring the website Mashable for more than $200 million.
The news comes from a Reuters report, which cites "a little bird" as disclosing the major acquisitions deal. If true, it would be one of the biggest purchases of what is essentially just a blog.
Mashable covers all facets of technology but is mainly focused on the social media environment. The site has become a destination for those who absolutely need to know everything that's happening in the world of Facebook and Twitter.
The site manages to bring in around 20 million unique visitors every month, making it one of the most visited sites on the Web.
Additional reports also pointed to discussions between CNN and Mashable, but only Reuters was able to say that the deal had actually been finalized.
If true, the announcement could potentially be made during the SXSW (South by Southwest) festival in Austin, Texas, which itself is a destination for all the latest happenings in today's varied American culture.
CNN does have a presence at SXSW, and the news giant has shown huge initiatives in the world of social marketing. However, various services that it has attempted to implement, including a premium video service that allowed people to stream live news conferences and other content, have failed.
Some of its services, though, like the iReport website that lets users virally share their own videos and pictures from wherever news is happening, have been successful. A Mashable acquisition would certainly prove how much CNN values social content.