Time Warner’s CNN is on the verge of buying the popular social media and tech savvy website, Mashable. There is already a current partnership in place, with Mashable articles often featured on CNN.com. A full pledge acquisition on the other hand could be a game changer. AOL proposed to purchase Mashable back in 2010 but the company declined. As a result, AOL tapped website-based companies like the Huffington Post and TechCrunch. CNN is estimated to be spending around $200 million for the company.
The New York Times were one of the first to report this story. This may come as a surprise because usually its Mashable that gives readers an early glimpse into any major breaking online news. They probably weren’t legally allowed to discuss details of the pending deal which has yet to be officially announced. Rumors swirl that CNN already has plans for a major announcement this week with Tuesday being the earliest day to make the news official.
Pete Cashmore founded Mashable in 2005 and has become an icon in the industry. Nicknamed “the internet playboy,” Cashmore has over 2.7 million Twitter followers. He stated recently that his website attracts roughly 12.5 million fans per month. In 2010, Forbes Magazine named Cashmore as the 3rd most influential person on their Web Celeb 25 list. The entrepreneur who was already rich will now become filthy rich thanks to the company which has become the standard for online blogging.