So far, AOL (NYSE: AOL) is sticking to the “no comment” on speculation rule but if the portal is on the verge of acquiring Mashable from Pete Cashmore, it’s a black op so secret that no one there knows. Cashmore isn’t commenting either but why would he? He and Mashable thrive on publicity. The idea of AOL making a deal with Pete Cashmore for Mashable first bubbled up from Gawker, then boiled over with a tweet from Robert Scoble that a deal was being done. He has since backed off, suggesting “it might not be an ad sale; might be over ad revenues.”

That would be interesting, especially if AOL is thinking about appealing to high-profile blogs with some kind of Federated Media setup. FM currently reps Mashable, calling it “the world’s largest blog focused on Web 2.0 and Social Media news.” More as warranted.