South by Southwest’s rumor mill has already begun churning with pioneer news network CNN and social media news site Mashable at the forefront. News was recently divulged by Reuters blogger Felix Salmon that the cable network would buy Mashable for a reported $200 million. Other outlets later jumped on the story, with The New York Times confirming that talks were indeed underway. CNN has not commented on the matter and Mashable CEO Pete Cashmore has reportedly e-mailed his staff, denying rumors that Mashable will be acquired this week. The announcement, according to unnamed sources, is set to be made this Tuesday.
Commentators agree this move would be a winning option for the Cable News Network, as it would illustrate its moving into the digital age with the embracing of social media. It would also be a positive venture for Mashable, who would be back by a major news organization. Both would also enjoy a boost in Mashable’s monthly visits, which caps at about 20 million to date.
Nothing has been confirmed, but both news organizations could be making big moves at this year’s SXSW. Stay tuned. — Iyana Robertson