Courtesy of Benzinga.
Time Warner’s (NYSE: TWX) international news channel CNN is said to be preparing to buy Mashable.com, the site that delivers social media news and web tips. The rumored price? A cool $200 million.
The news was broken by Felix Salmon, a Reuters blogger, who got the tip from sources he has not named so far. The alleged takeover should be announced on Tuesday, according to Salmon’s unnamed source.
What would CNN get for its $200 million? “Over 15 million monthly visitors and 4 million social media followers accross Twitter, Facebook and Google+” says IBNLive.
New York Times says officials so far have denied a possible announcement on Tuesday. That said, were it to be true, the acquisition would be the largest CNN has made. It will also be the highest price paid for a tech news site. Mashable.com launched out of founder Pete Cashmore’s home in Scotland in 2005.
TWC closed at $79.68 a share on Friday, up half of a percent on that session’s open.
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