Yahoo 'to buy Tumblr for $1.1bn'

Yahoo's board has approved a deal to buy New York-based blogging service Tumblr for $1.1bn, US media reports say.

The acquisition is expected to be announced as early as Monday.

The deal was a "foregone conclusion" and was a unanimous vote by the board, tech blog AllThingsD reported, citing sources close to the matter.
Posted by Unknown 5/20/2013