https://www.cnet.com/news/verizon-reportedly-shopping-tumblr-around-to-potential-buyers/

Verizon agreed to buy Yahoo's operating business for $4.83 billion in 2016, though the price was slashed by $350 million after it was revealed Yahoo had suffered two massive data breaches. Yahoo bought Tumblr in 2013 in a $1.1 billion deal.

In 2017, Verizon merged AOL and Yahoo into its business, creating the media division dubbed Oath. But Verizon admitted late last year that the assets weren't as valuable as it had thought. The company announced in December it was writing down a $4.6 billion goodwill impairment in the fourth quarter as a result of the acquisitions.