Verizon reportedly shopping Tumblr around to potential buyers

CNET | 5/2/2019 | Steven Musil
superdudea (Posted by) Level 3
Click For Photo: https://cnet3.cbsistatic.com/img/USvtWivhj4A0dhxU-DrmeCRbjms=/756x567/2019/05/02/ac2c679f-b61c-481d-a22d-7c30b386688e/gettyimages-1068800406.jpg

Tumblr may be on the auction block.

Verizon Communications is looking for a buyer to take blogging website Tumblr off its hands as it looks to improve its media business's bottom line, The Wall Street Journal reports.

Sales - Process - Journal - Transaction - Verizon

The sales process, which the Journal warned might not result in a transaction, comes as Verizon struggles to make its transition from a wireless and broadband company into a media brand and create an alternative to digital advertising juggernauts Google and Facebook.

Verizon agreed to buy Yahoo's operating business for $4.83 billion in 2016, though the price was slashed by $350 million after it was revealed Yahoo had suffered two massive data breaches. Yahoo bought Tumblr in 2013 in a $1.1 billion deal.

Verizon - AOL - Yahoo - Business - Media

In 2017, Verizon merged AOL and Yahoo into its business, creating the media division dubbed Oath. But the company admitted late last year that the assets weren't as...
(Excerpt) Read more at: CNET
Wake Up To Breaking News!
Sign In or Register to comment.

Welcome to Long Room!

Where The World Finds Its News!