ProSieben Mulls Mashable Deal Amid Digital Media Push

ProSieben Mulls Mashable Deal Amid Digital Media Push

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.

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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%.

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