German broadcaster ProSiebenSat.1 has discussed acquiring Mashable, per The Wall Street Journal. Backed by industry stalwarts such as Time Warner and Turner Broadcasting, the New York-based digital media startup has struggled to secure further funding since raising $15 million at a $200 million valuation in March 2016.
The report comes about a year-and-a-half after Mashable, which has raised a total of $46 million, laid off around 30 employees in the wake of its Series C. For ProSieben the deal could offer a boost to a digital entertainment division that experienced a 2% YoY decline in revenue during 2Q. The US is already a bright spot for the German broadcaster, leading its content production & global sales segment to €89 million in revenue in 2Q, a YoY increase of 15%.
In his 2021 year-end letter, Baupost's Seth Klarman looked at the year in review and how COVID-19 swept through every part of our lives. He blamed much of the ills of the pandemic on those who choose not to get vaccinated while also expressing a dislike for the social division COVID-19 has caused. Q4 2021 Read More
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