Yahoo Board Approves $1.1 Billion Deal to Acquire Tumblr [WSJ]

Yahoo's board has reportedly approved a $1.1 billion cash deal to acquire Tumblr, reports AllThingsD and the WSJ.

The Yahoo board has approved a massive $1.1 billion deal to buy Tumblr. Sources close to the board said the deal was a foregone conclusion and was an unanimous vote by the Silicon Valley Internet giant.

Check for more information as the story develops. You can download Tumblr from the App Store for free.


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