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SmugMug buys Flickr from Yahoo

Flickr's website. Photo: LOIC VENANCE/AFP/Getty Images

Flickr, the online photo-hosting service Yahoo acquired in 2005, has a new owner: photo-sharing site SmugMug, the company announced on Friday.

Why it matters: Flickr is one of Yahoo's most recognizable assets, but its fate has been uncertain for months since Verizon bought its parent company and then merged with AOL last year. SmugMug CEO Don MacAskill says that his company will give Flickr the resources and attention it lacked under Yahoo's stewardship, he told USA Today.