CNN Looks Likely to Buy Mashable

Move would link traditional, new media

By Matt Cantor,  Newser Staff

Posted Mar 12, 2012 12:12 PM CDT

(Newser) – CNN is deep into talks to purchase social media news site Mashable, insiders tell the New York Times, which confirms an earlier Reuters report. It would be CNN's biggest-ever buy, costing well beyond the estimated $20 million purchase of app maker Zite last autumn. The news is thrilling South by Southwest attendees excited about the marriage of traditional and new media, the Times notes. Further confirmation of the possible deal: Mashable's executive editor "liked" the Reuters story on Facebook.

FFILE- This Jan. 17, 2001 file photo shows pedestrians entering CNN Center, the headquarters for CNN,  in downtown Atlanta. The latest rough patch for CNN illustrates the two contradictions at the network's heart. In a brutal time for the news business, CNN is one of the few media organizations thriving...
FFILE- This Jan. 17, 2001 file photo shows pedestrians entering CNN Center, the headquarters for CNN, in downtown Atlanta. The latest rough patch for CNN illustrates the two contradictions at the network's...   (AP Photo/Ric Feld,File)
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Felix Salmon of Reuters reports on the rumored talks.   (YouTube)

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