Vindu Goel, reporting for The New York Times:
Verizon, seeking to build an array of digital businesses that can compete for users and advertising with Google and Facebook, announced on Monday that it was buying Yahoo’s core internet business for $4.83 billion in cash.
The deal, which was reached over the weekend, unites two titans of the early internet, AOL and Yahoo, under the umbrella of one of the nation’s largest telecommunications companies. Verizon bought AOL for $4.4 billion last year. Now it will add Yahoo’s consumer services — search, news, finance, sports, video, email and the Tumblr social network — to a portfolio that includes AOL as well as popular sites like The Huffington Post.
Yahoo and AOL, once giants of the industry, now just another part of Verizon. I wonder what Tumblr’s fate will be?