Mashable Looks for Exit in Sale Talks With Germany’s ProSieben (Report)

Mashable, the digital-media player that like many of its peers has refocused on growing its video biz, has engaged in “extensive” discussions with ProSiebenSat.1 about a sale, the Wall Street Journal reported.

The unprofitable New York-based company had been trying to raised additional investment from a strategic investor but is “now leaning toward an all-out sale, the Journal reported, citing unnamed sources. Viacom “explored a deal” with Mashable, but that didn’t move forward, according to the WSJ. Time Warner’s Turner, which led Mashable’s $15 million round last year, hasn’t been interested in acquiring full control.

The Journal report didn’t include proposed deal terms for a potential ProSieben takeover of Mashable. With its funding round last year, Mashable was valued at around $250 million.

For ProSieben, the addition of Mashable would augment its push into digital media. The German broadcast and media giant owns Studio71, the digital network formed from its acquisition of Collective Digital Studio. ProSieben’s investments in the space include a stake in online-video aggregator Pluto TV.

Mashable, founded as a blog by Pete Cashmore in 2005 when he was a teen in Scotland, has seen an exodus of top execs recently. That has included chief strategy officer Adam Ostrow, who departed last month for TV broadcaster Tegna, and chief revenue officer Ed Wise (now CRO of Romeo Power). Mashable laid off about 30 employees last year after the Series C funding, including longtime editor-in-chief Jim Roberts and previous CRO Seth Rogin.

In 2016, Mashable recorded a net loss of $10 million as revenue rose 36% to $42 million, according to the Journal report. The company is targeting $50 million in revenue for 2017 and “may break even,” per the WSJ.

More Digital

  • R Stanton Dodge draftkings

    Dish Network Top Lawyer R. Stanton Dodge Exits to Join DraftKings

    Mashable, the digital-media player that like many of its peers has refocused on growing its video biz, has engaged in “extensive” discussions with ProSiebenSat.1 about a sale, the Wall Street Journal reported. The unprofitable New York-based company had been trying to raised additional investment from a strategic investor but is “now leaning toward an all-out […]

  • Facebook Orders Online Teen Drama ‘Skam’

    Facebook Orders Online Teen Drama ‘Skam’

    Mashable, the digital-media player that like many of its peers has refocused on growing its video biz, has engaged in “extensive” discussions with ProSiebenSat.1 about a sale, the Wall Street Journal reported. The unprofitable New York-based company had been trying to raised additional investment from a strategic investor but is “now leaning toward an all-out […]

  • Internet Pay TV Services Wont Gain

    Forecast Predicts Skinny Bundles Will See Limited Growth

    Mashable, the digital-media player that like many of its peers has refocused on growing its video biz, has engaged in “extensive” discussions with ProSiebenSat.1 about a sale, the Wall Street Journal reported. The unprofitable New York-based company had been trying to raised additional investment from a strategic investor but is “now leaning toward an all-out […]

  • Discovery ATLF and the VCC

    How Discovery, TLC and Tegna Are Bringing Live Internet-Video Calls Into On-Air Broadcasts

    Mashable, the digital-media player that like many of its peers has refocused on growing its video biz, has engaged in “extensive” discussions with ProSiebenSat.1 about a sale, the Wall Street Journal reported. The unprofitable New York-based company had been trying to raised additional investment from a strategic investor but is “now leaning toward an all-out […]

  • Magic Leap

    Magic Leap Announces $502 Million Funding for Augmented-Reality Headset

    Mashable, the digital-media player that like many of its peers has refocused on growing its video biz, has engaged in “extensive” discussions with ProSiebenSat.1 about a sale, the Wall Street Journal reported. The unprofitable New York-based company had been trying to raised additional investment from a strategic investor but is “now leaning toward an all-out […]

  • Niantic Labs May Build a Pokemon

    Niantic Labs CEO John Hanke on AR, Computer Vision and the Future of Pokemon Go

    Mashable, the digital-media player that like many of its peers has refocused on growing its video biz, has engaged in “extensive” discussions with ProSiebenSat.1 about a sale, the Wall Street Journal reported. The unprofitable New York-based company had been trying to raised additional investment from a strategic investor but is “now leaning toward an all-out […]

  • Whistle Sports

    Jeffrey Katzenberg's WndrCo Invests in Whistle Sports

    Mashable, the digital-media player that like many of its peers has refocused on growing its video biz, has engaged in “extensive” discussions with ProSiebenSat.1 about a sale, the Wall Street Journal reported. The unprofitable New York-based company had been trying to raised additional investment from a strategic investor but is “now leaning toward an all-out […]

More From Our Brands

Access exclusive content