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The Yahoo board has approved a deal to pay $1.1 billion for the blogging site Tumblr, according to The Wall Street Journal's All Things D.
Yahoo will pay for the blogging site in cash, All Things D reported. Yahoo nor Tumblr released official statements.
Tumblr's media team did not respond to repeated requests for comment. In a statement to NBC News, a Yahoo spokeswoman said Yahoo would not comment on "rumors or speculation."
Yahoo no doubt has something up its sleeve, as the company invited CNBC to a press event on Monday afternoon where it would "share something special." It is unclear whether that is related to a deal with Tumblr.
Also unclear is whether Tumblr has accepted Yahoo's reported offer.
Talk of a deal began circulating Friday, after All Things D reported that the two companies had been in talks for several weeks.
Read more http://www.nbcnews.com/business/report-yahoo-buys-tumblr-1-1-billion-cash-1C9990083
Yahoo will pay for the blogging site in cash, All Things D reported. Yahoo nor Tumblr released official statements.
Tumblr's media team did not respond to repeated requests for comment. In a statement to NBC News, a Yahoo spokeswoman said Yahoo would not comment on "rumors or speculation."
Yahoo no doubt has something up its sleeve, as the company invited CNBC to a press event on Monday afternoon where it would "share something special." It is unclear whether that is related to a deal with Tumblr.
Also unclear is whether Tumblr has accepted Yahoo's reported offer.
Talk of a deal began circulating Friday, after All Things D reported that the two companies had been in talks for several weeks.
Read more http://www.nbcnews.com/business/report-yahoo-buys-tumblr-1-1-billion-cash-1C9990083
