Aug 12, 2019

Verizon agrees to sell Tumblr to owner of Wordpress

Photo: Martin Bureau/AFP/Getty Images

Verizon is set to sell the social network Tumblr to Automattic Inc, the owner of online publishing tool Wordpress. A source familiar with the deal puts the price-tag "well below" $20 million, while another source puts it below $10 million.

The big picture: Tumblr, while unprofitable, hosts more than 450 million blogs and was once considered a major player in the social media space. The network was acquired by Yahoo for $1.1 billion in 2013, before moving under Verizon's umbrella through the carrier's acquisition of Yahoo in 2017. Verizon's desire to sell Tumblr had been previously known, but as of May, Pornhub had been the only bidder to show public interest.

Automattic Inc. will buy the network and take on its 200 employees.

Between the lines: Tumblr has faced backlash over the years for not properly monitoring pornographic content, which Verizon ultimately banned last year. Automattic's Chief Executive Matt Mullenweg told the Wall Street Journal that he plans to maintain the ban.

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Updated 49 mins ago - Politics & Policy

Esper catches White House off guard with opposition to military use, photo op

Defense Secretary Mark Esper said at a press briefing Wednesday that he does not currently support invoking the Insurrection Act, an 1807 law that permits the president to use active-duty troops on U.S. soil, in order to quell protests against racial injustice.

Why it matters: President Trump threatened this week to deploy military forces if state and local governments aren't able to squash violent protests. Axios reported on Tuesday that Trump is backing off the idea for now, but that he hasn't ruled it out.

Updates: George Floyd protests continue for 9th day

Demonstrators march on Pennsylvania Avenue on June 3. Photo: Tom Williams/CQ-Roll Call, Inc via Getty Images

Largely peaceful protests over the death of George Floyd and other police-related killings of black people continued Wednesday, marking nine straight days of demonstrations.

The latest: As several major cities moved to lift curfews, NYPD officers "aggressively" dispersed large crowds in Brooklyn and Manhattan beyond New York City's 8 p.m. curfew, per the New York Times. The National Guard was stationed outside many protests Wednesday night, including in Hollywood and Atlanta.

Trump hits back at Mattis: "I gave him a new life"

President Trump speaks at the White House. Photo: Doug Mills - Pool/Getty Images

President Trump unloaded on his former defense secretary via Twitter on Wednesday, hours after James Mattis condemned him for making a "mockery of our Constitution" in his response to mass protests in the wake of George Floyd's killing.

What he's saying: "Probably the only thing Barack Obama & I have in common is that we both had the honor of firing Jim Mattis, the world’s most overrated General. I asked for his letter of resignation, & felt great about it. His nickname was 'Chaos', which I didn’t like, & changed it to 'Mad Dog'"