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Yahoo to pay 1 billion dollars for blog site Tumblr

Internet veteran Yahoo Inc agreed to buy the blogging site Tumblr Inc in a deal worth over 1 billion dollars, US media reported Sunday.

An official announcement was expected on Monday.

The Yahoo board of directors unanimously approved an all-cash deal worth 1.1 billion dollars, according to the Wall Street Journal.

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Yahoo acquires video chat startup company

SAN FRANCISCO (Reuters) – Yahoo Inc said it acquired a five-person video chat company on Tuesday, the second deal by new Chief Executive Marissa Mayer to bolster Yahoo’s mobile capabilities.

Yahoo did not disclose the financial terms of its acquisition of OnTheAir, but said the team would be joining Yahoo’s mobile group.

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Yahoo teams up with Spotify for on-demand music

LOS ANGELES (AP) – Yahoo is ditching its provider of on-demand music, Rhapsody, for a similar service provided by Swedish subscription-music service Spotify.

The changes to the Yahoo Music site are expected to be complete by early Wednesday. Spotify’s rollout across the rest of Yahoo will take longer. Rhapsody had been a Yahoo partner since February 2008.

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Yahoo’s Axis targets new visual search

San Francisco (dpa) – Yahoo has unveiled a new type of search platform that it hopes will restore the struggling web pioneer to something of its former glory.

Released late Wednesday by the Silicon Valley company, Axis, as it is known, is currently available as an app for Apple’s iPhones and iPads and as an extension to the top four desktop browsers Internet Explorer, Chrome, Safari and Firefox.

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Yahoo CEO says he didn’t mislead company

SAN FRANCISCO (AP) – Yahoo CEO Scott Thompson says he didn’t provide the information that led the troubled Internet company to list a bogus college degree in his official biography. That’s according to a person familiar with the matter.

The person asked not to be identified because Thompson made the remarks in a private meeting Thursday with other Yahoo executives. His comments were first reported by Reuters.

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