CNN Rumored to Buy Mashable Social Media Blog for $200M

So one of the biggest rumors circling around this year’s South by Southwest (SXSW) is that CNN is going to purchase Mashable for over $200 million.  It is not yet confirmed that this will happen, but Reuters blogger Felix Salmon seems to be the one to have first sourced the rumor with a video blog post from the weekend.

This kind of acquisition at that price may have seemed outlandish, but with AOL having purchased the Techcrunch and the Huffington Post, it’s entirely a possibility.  The thing that CNN may have to be careful of is the post-acquisition integration: while the Huffington Post deal went well, the Techcrunch deal didn’t go as hot, with several high profile bloggers leaving the site and admonishing the treatment of the site under the new owners.

Brian Stelter over at the New York Times is reporting that some of their sources are cautioning that the deal will not happen.

Check out the video below from Reuters for a bit more insight into the possibility.

Publish date: March 12, 2012 © 2020 Adweek, LLC. - All Rights Reserved and NOT FOR REPRINT