A second source close to Mashable confirms that executives have been working on a deal with CNN. This source speculates that the deal is 80% likely to close.
We don’t know if the deal has closed yet, nor do we know price. Obviously, it may fall apart. This report, for example, won’t help negotiations. We only know that Mashable executives are preparing for a sale.
This has actually been rumored for a while — Reuters’ Felix Salmon suggested this was going to happen back in March, though there’s no word if the $200 million acquisition price he suggested will actually pan out. Word is that some of the site’s sections would merge into CNN proper.
10:39 // 2 years ago
Ben Parr was offered an enormous cash payout as long as he stays until 2012. One source said Parr was offered a compensation package, on top of salary, worth more than $100,000 and less than $300,000.
Clearly, something changed. Parr originally planned to stay on until July of next year, according to Business Insider’s take on his firing. “One source told us that the fact we knew about Parr’s payout was a breach of contract,” that article says. “So there’s a chance the agreement was shot down or Parr and Mashable couldn’t reach a new agreement.” Read the linked article above — it notes how Mashable is gunning for a HuffPo-style sale, and how, beyond Parr, turnover has been super-high in recent months.
23:25 // 2 years ago