Yahoo Board Approves $1.1B Acquisition of Tumblr
Yahoo's board has approved a $1.1 billion acquisition of blogging site Tumblr, according to the Wall Street Journal. The Journal first reported the news on Sunday via Twitter. An imminent announcement of the acquisition had been expected. AllThingsD reported Friday that Yahoo's board was meeting this weekend to finalize a deal. Rumors about the possible tie-up first surfaced on Thursday.