Photo by David McNew/Newsmakers.
The air at South by Southwest is apparently filled with rumors of a CNN acquisition of Mashable, a popular social media and tech news site.
Felix Salmon at Reuters posted a video report from the Austin festival Sunday night saying that "a little bird" told him that CNN (owned by Time Warner) and Mashable were in advanced talks that could result in an announcement of a sale for more than $200 million on Tuesday. As the New York Times notes, Mashable's executive editor Adam Ostrow "liked" Salmon's story on Facebook, apparently adding fuel to the rumors that are already the talk of the popular annual interactive technology and music festival.
Both companies declined to comment on the rumors, the Times reports, but CNN did deny that there would be a Tuesday announcement. According to the Times, also reporting based on unnamed sources, the talks are far along but might not lead to an acquisition.
On Monday morning, Mashable founder Pete Cashmore reportedly sent an email to staffers denying that there would be an acquisition announcement this week, but as the Times notes, this doesn't exactly douse the rumors of an acquisition in the works for a later date.
CNN and Mashable already have a relationship. As the Guardian reminds us, CNN runs a column from Cashmore and posts headlines from the site. Mashable has recently expanded from tech and social media news into business and entertainment coverage.