Already an aggressive participant in the mobile media sphere, cable news juggernaut CNN may be preparing to take its mobile ambitions to a whole new level.
According to rumor-filled reports populating the mainstream media today, CNN is believed to be interested in acquiring iPad magazine startup Zite.
The deal could be valued as high as $25 million.
According to Techvibes, a Canadian news site: “The biggest story (and the one that was easiest to confirm with multiple independent sources) is that Vancouver’s Zite is apparently in the process of being acquired by CNN.”
In March Zite received a cease and desist letter from a large group of media company lawyers, who collectively insist that Zite must stop “misappropriating” their intellectual property. Companies pressuring Zite included giants The Washington Post, Time Warner (CNN’s parent), AP, and Getty Images.
If Zite is, indeed, being actively courted by CNN, the powers-that-be aren’t talking. For the time being, CNN isn’t offering comment on the speculation.
