MEDIA
03/12/2012 08:47 am ET Updated Mar 12, 2012

CNN Rumored To Buy Mashable For $200 Million

CNN is rumored to announce a major deal this week.

Sunday night, Reuters' Felix Salmon reported from Austin's South by Southwest conference that CNN was about to acquire Mashable, one of the biggest online destinations for news and tips about social media, the web, and technology. Salmon said the deal could be announced as early as Tuesday.

The New York Times confirmed on Monday that CNN was in advanced talks to acquire the website, but reported that network representatives denied a deal would be announced on Tuesday. The Times also reported that sources familiar with the situation advised it could fall through.

CNN currently uses some of Mashable's stories in syndication on CNN.com. Multiple news outlets have reported that the division of Time Warner would purchase the website for roughly $200 million.

According to the website, Mashable has 20 million unique vistors per month and 4 million social media followers. Mashable was founded in 2005 by Pete Cashmore in Aberdeenshire, Scotland. The company is headquartered in New York City and has additional offices in San Francisco.

HuffPost

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Salmon's scoop sent reporters into a tizzy Sunday night. View some of 2011's biggest scoops below:

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