The hot SXSW rumor is that CNN is looking to acquire Mashable for some $200 million. But right now it’s just that: a rumor. In fact we just heard from a trusted Mashable staffer that founder and CEO Pete Cashmore is denying the reports to senior level Mashable editors. But that might not mean anything. Mike and Heather gave us TCers the same line up until Tim Armstrong showed up at Disrupt.

The initial rumor came from Reuters blogger Felix Salmon and later confirmed by the NYT’s Brian Stelter. The announcement is reportedly coming tomorrow, March 13th.

If true, the move would dramatically strength CNN’s presence in the blogging space. CNN.com is one of the most popular go-to news sites in the States and Mashable, with its massive network of partner sites, would greatly extend CNN’s reach.

We also heard that Mashable’s Executive Editor, Adam Ostrow, inadvertently “liked” the original Reuters report — although I’m sure his potential payday likely did the clicking.

Crunchbase

• MASHABLE

Company: Mashable

Website: mashable.com

Launch Date: 2005

Mashable is the largest independent news source dedicated to covering digital culture, social media and technology. Mashable reports on the importance of digital innovation and how it empowers and inspires people around the world. Mashable’s 13 million monthly unique visitors and 4 million social media followers have become one of the most engaged online news communities. Numerous studies and leading publications have declared Mashable the most influential online news outlet and a must-read site. Mashable also syndicates its content to top...

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