Morning Media Newsfeed: Yahoo! Buying Tumblr | Village Voice Layoffs | Karl Regrets Report

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Yahoo! Tumblrs for Cool: Board Approves $1.1 Billion Deal as Expected (AllThingsD)
The Yahoo! board has approved a massive $1.1 billion all-cash deal to buy Tumblr. It’s not clear when the official vote was taken, but sources close to the board said the acquisition was a foregone conclusion and was unanimously approved by the directors of the Silicon Valley Internet giant. The deal will likely be announced Monday morning, said numerous sources. Business Insider Marissa Mayer has made her first big move as CEO of Yahoo!. She’s buying a social networking site with a younger audience and a ton of page views. Now it’s time to monetize the thing. Tumblr has just $13 million in revenue right now. It should be able to increase that revenue following the model of Twitter and Facebook. BuzzFeed When Yahoo! was founded, Tumblr’s most important demographic wasn’t even born. This — not profit or monthly active user numbers or corporate image-making — is what explains why Yahoo! wants Tumblr. GigaOM The painful fact is that Yahoo! doesn’t just look desperate — in many ways it is desperate. Mayer has made some changes since she took over the ailing former Web portal, including the acquisition of Summly and a number of other mobile-focused startups and services, but the company still needs to make some aggressive moves if it is going to jump-start any growth at all. AllThingsD If you write about Tumblr as a business, you are required to note that Tumblr has a lot of porn. So why isn’t that an issue for Yahoo!?

‘Bloodbath’ Day at Village Voice: Musto, Sietsema, Feingold Out (Gawker)
Michael Musto, the Village Voice‘s nightlife columnist and most high-profile remaining staffer, has been let go, as was rumored two weeks ago. (There had apparently been some talk of Musto’s column hanging on in some form, but that does not seem to have worked out.) Also let go, sources tell us, was Robert Sietsema, the Voice‘s longtime food critic, and Michael Feingold, the paper’s theater critic. FishbowlNY Christine Brennan, executive editor of the Village Voice Media Group, oversaw the reductions, which included some on the business side of the Voice. She was also the one asking Will Bourne, the Voice‘s last editor, to fire or reduce the roles of staffers. Musto had been writing for the Voice since the early 1980s; Sietsema since the early 90s and Feingold since the late 90s. When a paper just fires three of its most iconic writers, you know things are bad. NY Mag / Daily Intelligencer “What a ride!” wrote Musto in a Facebook post. “I got to meet my icons, piss off power brokers, and write whatever I wanted because the Voice not only let you do that, but encouraged you to do so, providing a cathartic venue in which to spout truths and even make enemies, if need be.” AltWeeklies.com Voice Media Group recognizes their many achievements and honors over the years, and thanks them for their loyalty, their professionalism, and the iconic role they have played in establishing the Voice as a cultural touchstone in New York City.

ABC’s Jonathan Karl to CNN: ‘I Regret The Email Was Quoted Incorrectly’ (CNN / Political Ticker)
Jonathan Karl, chief White House correspondent for ABC News, addressed criticism of his reporting on the Benghazi talking points controversy, saying in a statement to CNN that he regrets the inaccuracy of his report. “Clearly, I regret the email was quoted incorrectly and I regret that it’s become a distraction from the story, which still entirely stands. I should have been clearer about the attribution. We updated our story immediately,” he said in the statement to Howard Kurtz, host of CNN’s Reliable Sources. PressThink / Jay Rosen If a reporter for your network tells the public he has “exclusively” obtained evidence he has not in fact obtained, causing other reporters for the network to repeat that untruth, and part of his report turns out to be wrong, in a way that is politically consequential and would have been avoided if the evidence was actually in the reporter’s possession… what is the proper penalty?