Media News
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Tumblr Inc.’s $1.1 billion purchase by Yahoo! Inc. marks the biggest deal for a venture-backed New York startup, bringing a windfall for East Coast investors Union Square Ventures and Spark Capital while laying a foundation for further investing in the region’s entrepreneurs.
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Vodafone Group Plc, the second- largest wireless carrier, said earnings may rise to as much as 12.8 billion pounds ($19.5 billion) this year as the company eliminates jobs and stores in Europe and its U.S. mobile venture Verizon Wireless grows.
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Yahoo! Inc. is buying blogging network Tumblr Inc. for about $1.1 billion as Chief Executive Officer Marissa Mayer seeks to lure users and advertisers with her priciest acquisition to date.
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TiVo Inc., the developer of digital- video recorders, posted a narrower first-quarter loss after adding the most pay-TV subscribers in seven years.
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