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.

Additional Stories

Trump prepares to announce Amy Coney Barrett as Supreme Court replacement

Judge Amy Coney Barrett. Photo: Matt Cashore/Notre Dame University via Reuters

President Trump is preparing to nominate federal appeals court Judge Amy Coney Barrett of Indiana, a favorite of both the social conservative base and Republican elected officials, to succeed Justice Ruth Bader Ginsburg, Republican sources tell Axios.

Why it matters: Barrett would push the already conservative court further and harder to the right, for decades to come, on the most important issues in American politics — from abortion to the limits of presidential power. If confirmed, she would give conservatives a 6-3 majority on the high court.

Trump risk rises for companies

Illustration: Aïda Amer/Axios

Donald Trump fancies himself a businessman — and has given himself a central role in determining the conduct and even the existence of major companies both domestic and foreign.

Why it matters: America has historically been a great place to operate a company under the rule of law, and not be beholden to political whim. Those days seem to be over — at least for companies in the communications industry.

China's split personality on climate

Illustration: Sarah Grillo/Axios

A new insta-analysis of China's vow to achieve "carbon neutrality" before 2060 helps to underscore why Tuesday's announcement sent shockwaves through the climate and energy world.

Why it matters: Per the Climate Action Tracker, a research group, following through would lower projected global warming 0.2 to 0.3°C. That's a lot!

California war over gas-free cars

Illustration: Eniola Odetunde/Axios

The fate of California's aggressive moves to wring carbon emissions out of transportation could depend heavily on the election and the shape of the Supreme Court.

Why it matters: California is the country's largest auto market and transportation is the country's largest source of CO2.

Supreme Court Justice Ruth Bader Ginsburg dies at 87

Ruth Bader Ginsburg. Photo: Tom Brenner/Getty Images

Justice Ruth Bader Ginsburg has died of metastatic pancreatic cancer at age 87, the Supreme Court announced Friday evening.

The big picture: Ginsburg had suffered from serious health issues over the past few years. As an attorney and then as a justice Ginsburg cemented a legacy as one of the foremost champions of women's rights, raising gender equality to a constitutional issue. Her death sets up a fight over filling a Supreme Court seat with less than 50 days until the election.

U.S. hits highest daily COVID-19 case count since pandemic began

COVID Tracking Project

The U.S. confirmed at least 83,010 coronavirus cases on Friday, the country's highest daily total since the pandemic started, according to data from the COVID Tracking Project.

By the numbers: Friday's total surpassed the U.S.'s previous record set on July 17 when 76,842 cases were recorded. 

Coronavirus dashboard

Illustration: Aïda Amer/Axios
  1. Politics: Fauci: Trump hasn't been to a COVID task force meeting in months.
  2. Sports: The youth sports exodus continues — Big Ten football is back.
  3. Health: AstraZeneca to resume vaccine trial in U.S.How to help save 130,000 lives.
  4. Retail: Santa won't greet kids at Macy's this year.
  5. World: Spain and France exceed 1 million cases.

Fauci: Trump hasn't been to a COVID task force meeting in months

Photo: Drew Angerer/Getty Images

President Trump has not attended a White House coronavirus task force meeting in “several months,” NIAID director Anthony Fauci told MSNBC on Friday.

Why it matters: At the beginning of the pandemic, the task force, led by Vice President Mike Pence, met every day, but in the "last several weeks," members have held virtual meetings once a week, Fauci said, even as the number of new cases continues to surge in the country.

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