CNN to buy


CNNOver the past few days, Mashable executives have been busily preparing for an acquisition by CNN, according to Business Insider. One source tells the site that Mashable has audited its finances and sent them to Turner. This source also says Mashable executives have been holding meetings to discuss which Mashable divisions will be integrated into CNN and which will not be.

A second source close to Mashable confirms that executives have been working on a deal with CNN. This source speculates that the deal is 80% likely to close.

Mashable was founded as a technology blog in 2005. It’s morphed into more of a general interest news site with millions of readers, from a technology-oriented perspective. It is owned almost entirely by Pete Cashmore, CEO and founder. No word if the deal has closed yet. Earlier this Spring, Reuters columnist Felix Salmon said he’d heard gossip that CNN would buy Mashable for $200 million.

See the Business Insider story here