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Yahoo buys Tumblr for $1.1 billion

Posted: 1:42 PM, May 20, 2013
Updated: 2013-05-20 13:42:37-04

Tumblr users may be in for a new look.

Yahoo’s board of directors has approved a deal to purchase the short-form blogging web site.

The deal is said to be worth more than $1 billion.

It would give Yahoo a significant new base of young, active online users.