Internet

Yahoo To Buy Tumblr

$1.1 billion deal approved

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Yahoo's board has approved a deal to buy New York-based blogging service Tumblr for $1.1bn (£725m), US media reports say.

The acquisition is expected to be announced as early as Monday.

The deal was a "foregone conclusion" and was unanimously voted for by the board, tech blogAllThingsD reported, citing sources close to the matter.

If confirmed, it will be CEO Marissa Mayer's largest deal since taking the helm of Yahoo in July 2012.