Rumors among techies and news junkies began to swirl early this morning as reports surfaced that CNN is laying the groundwork to acquire technology-news outlet Mashable. The announcement of the acquisition could come as early as Tuesday morning.
However, in a twist of events, Mashable’s CEO Pete Cashmore allegedly emailed his staff this morning stating the technology and social media news source would not be acquired this week, but did not mention CNN specifically.
An acquisition of Mashable by CNN would make a significant statement on old-media versus new-media. With over 20 million monthly Mashable visitors, CNN can tap into a new base of readers while Mashable could benefit by having an established news outlet like CNN behind it. Although, the reported $200 million CNN is willing to pay isn’t a bad incentive either.
While both companies stand to benefit from the acquisition, I can’t help but feel a little sad Mashable is selling out. At just seven years old, Mashable has come a long way since the days in Cashmore’s bedroom. I still think the technology news site could remain successful on its own, but I can understand the difficulty in turning down a major news network.
I’m interested to see when we will hear an official announcement by CNN and Mashable and exact conditions of the deal.
Are there any other Mashable readers who are a little disappointed about the acquisition too? Or, is this the right direction for both CNN and Mashable?