Verizon he said that it agreed to sell Tumblr to Automattic Inc., the owner company of WordPress.com.
The terms of the deal have not yet been revealed, except that Tumblr will be followed by about 200 Verizon executives at Automattic, according with the Wall Street Journal.
The ban on pornography imposed by Verizon will continue on Tumblr after the agreement is completed.
At the moment no one knows when the deal will be completed.
"Tumblr is one of the most well-known brands on the Web," he said communication Automattic CEO Matt Mullenweg.
It is a key place to share new ideas, cultures and experiences, helping millions to create and build communities around their common interests. …. We're excited to add it to our lineup, which already includes WordPress.com, WooCommerce, Jetpack, Simplenote, Longreads and more.
Verizon Media CEO Guru Gowrappan described Automattic as Tumblr's "perfect partner", saying "the experience and buyer history will unlock new and exciting features for Tumblr and its users".
However, Verizon's moves in the media business have not gone so well. In January, Verizon laid off 7% of its 11.385 Yahoo-AOL employees.
This came weeks after Verizon announced to the Securities and Exchange Commission that the media company had "lower-than-expected revenue and profits" and "lower-than-expected benefits from the integration of Yahoo Inc. businesses." and AOL Inc. ”.
In May of this year, Verizon began looking for buyers for Tumblr. Pornhub said it wanted to buy Tumblr, but Verizon refused, as it had banned all pornographic material on the site. According to information, Automattic will maintain this ban.
"Mr Mullenweg has stated that his company intends to maintain the existing policy banning adult content."
"He mentioned that he has been a Tumblr user for a long time and sees the site as complementary to WordPress.com."