This could be the news of the 2012 South by Southwest: CNN is set to pay more than $200 million to buy social media blog Mashable, according to Reuters blogger Felix Salmon.
Salmon, who is attending this week’s festival and conference in Austin, Texas, says that “a little bird” told him that CNN will announce the deal on Tuesday. If the deal goes through as rumored, it would be an amazing coup for Mashable founder Pete Cashmore, who founded the blog in July 2005. The site draws about 20 million monthly unique visitors. The New York Times confirmed the existence of the talks but quoted sources saying that the negotiations are not complete. For what it’s worth, one of the editors at Mashable, Adam Ostrow, “liked” on Facebook, the Reuters story.