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CNN likely to buy Mashable tech-news website

Washington, Wed, 14 Mar 2012 ANI

Washington, Mar 14(ANI): CNN is reportedly in talks to buy the technology news website Mashable.com.


The website was founded by Scot Pete Cashmore in 2005, and has now emerged as a hugely popular blog.


The website, which claims to have 20 million users per month, is valued by some at 130 million pounds, the BBC reports.


The Wall Street Journal quoted a source, as saying that CNN will never come close to paying that amount for the site.


According to Cashmore's official biography on Mashable.com, he started the site to focus on "up-to-the-minute news on social networks and digital trends".


Mashable.com has not yet responded on the issue.


CNN, which is owned by Time Warner Inc, has been trying to evolve its business to address competition from online news sites. (ANI)


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