WordPress parent company Automattic Inc. to buy Tumblr from Verizon

A person's hands holding a smartphone that displays the Tumblr application

It angered many users past year when it banned porn and "adult content", which made up a big part of its highly visual and meme-friendly online presence.

As Yahoo and its assets have been chopped up and reformed by Verizon (neé Oath), there's been speculation around the possible sale of Tumblr - informed by high-level exits within the company, and finally confirmed by Verizon itself this may when it announced the site was up for auction. Automattic says the ban will remain in place.

Verizon has agreed to sell the service for less than $3 million, a tiny fraction of the $1.1 billion that Yahoo paid for the social network in 2013.

And although PornHub showing interest in Tumblr earlier this year led to some new hope for Tumblr users, the latest acquisition of Tumblr will break all those dreams.

U.S. telecommunications company Verizon is selling its ownership of Tumblr over to Automattic, the parent company of WordPress, according to a report by the Wall Street Journal (WSJ).

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"Tumblr is a marquee brand that has started movements, allowed for true identities to blossom and become home to many creative communities and fandoms", Verizon Media CEO Guru Gowrappan said in a statement to The Verge.

According to The Wall Street Journal, the sale of Tumblr is part of Verizon's restructuring of its media group, which also includes HuffPost and TechCrunch. Automattic said the company plans to continue the adult content policy.

As social platforms like Instagram and Snapchat have grown, blogging site Tumblr has dropped in popularity.

The terms of the deal have not been disclosed, but according to the Wall Street Journal, Automattic will "take on about 200 staffers" from Verizon at the same time. Automattic also plays a major role in maintaining WordPress.org, which is the free, open-source version of WordPress that's widely used by many websites on the internet to this date.

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