Verizon selling Tumblr to WordPress owner (updated)

• Verizon Media (NYSE:VZ) is unloading its blogging site Tumblr for a nominal fee, to Automattic, the owner of publishing tool WordPress.
• Exact purchase price was undisclosed. Automattic will take on some 200 staffers in the deal.
• Verizon had taken over Tumblr through its Yahoo acquisition, but has been looking to revamp the former Oath media group. And Yahoo had paid about $1.1B for Tumblr in 2013, before writing down the site's value by $230M in 2016.
• Updated 6:13 p.m.: According to Axios, one source puts the deal price "well below" $20M while another puts it under $10M.