Yahoo to Buy Tumblr for $1.1B

Board approves cash deal in 'foregone conclusion'

By Polly Davis Doig

Posted May 19, 2013 11:50 AM CDT

Copied

Yahoo to Buy Tumblr for $1.1B — Tumblr would be the latest feather in Yahoo CEO Marissa Mayer's cap. (AP Photo/NBC Peter Kramer/NBC/NBC NewsWire)

The rumors were apparently pretty accurate: Yahoo will indeed acquire Tumblr, and its board has approved a $1.1 billion cash deal for the blogging site. The board met today and unanimously OKed the deal, in what AllThingsD's Kara Swisher reports was "a foregone conclusion." It's the biggest acquisition of Yahoo CEO Marissa Mayer's 10 months at the helm, adds the AP.

Read These Next

South Africa's weekend arrived with a grim start.
Updated list of free days at national parks is raising some eyebrows.
Radiation expert has interesting new theory on why plane plummeted.
Harvard visiting professor leaves US after antisemitism allegation.

Report an error