Yesterday The Wall Street Journal reported something interesting, according to them Yahoo’s board of directors has already approved a deal to purchase the blogging site, Tumblr for $1.1 billion in a cash deal.

Said to be announced during today’s media event hosted by the company in new York, CEO Marissa Mayer is said to reveal the companies plans for the platform.

We also expect some more news on how they plan to use their most recent acquisition of Summly.

However there’s no confirmation of the deal, with no official news yet, we shall have to wait to hear any more details.

Source: The Wall Street Journal

Via: EnGadget

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