Yahoo buying Tumblr for $1.1 billion, vows not to screw it up

May 21 2013 1:42AM EST | Source: REUTERS Technology

SAN FRANCISCO/NEW YORK (Reuters) - Yahoo Inc will buy blogging service Tumblr for $1.1 billion cash, giving the Internet pioneer a much-needed social media platform to reach a younger generation of users and breathe new life into its ailing brand.