Time Warner is pumping more money into Mashable, a millennial-focused tech and pop culture news site, according to two people familiar with the matter.
The site has been on and off the market for several years and has been in acquisition discussions with Time Warner more than once, including late last year. Those discussions don't appear to have gone anywhere.
Time Warner already owns a stake in Mashable, through its venture arm Time Warner Investments. It’s not clear which part of Time Warner is making the latest investment.
Mashable was started in 2005 by blogger Pete Cashmore, making it one of the older online-only publications. In recent years the site has partnered with firms like Facebook and Snapchat to try and distribute across multiple platforms. It recently announced a deal with Bravo (owned by NBC Universal) to create several short-form series for the TV network.