yahoo c.e.o. marissa mayer mire announced they are buying tumblr for more than $1 billion. yahoo c.e.o. is hoping this will turn around the decline. >> that is right. it has been ten months since yahoo c.e.o. marissa mayer joined yahoo and is trying to reinvograte the website. she hopes that tumblr will help do that. 50 percent of users are younger than 25 and she needs them. this is the boldest move to date. yahoo c.e.o. marissa mayer calls the blogging site a "game changer." >> today is an exciting day for yahoo, tumblr and the users. yahoo c.e.o. marissa mayer spoke town vestors by conference call announcing the $1.1 billion cash purchase of tumblr. she started with a vow that has become the headline of the acquisition. >> we are making sincere promise to not screw it up. >> she tweeted a link to her own tumblr page with this gift "yahoo, tumblr panic and freak out, keep calm, carry on." the first time an animation has been created with an animate gift, but many are not buying it, worried this acquisition wi

. >> in the last hour yahoo c.e.o. marissa mayer made the purchase of social networking and blog site tumblr official and is making a bold promise. >> abc7 news kira klapper has more. >> marissa mayer tweeted a tweet about yahoo buying tumblr and says "i'm delighted to announce we have reached an agreement to acquire tumblr and we promise not to screw it up." yahoo is paying all cash $1.1 billion for tumblr a blogging forum and will be independently operated as a separate business and the founder and c.e.o., a 26-year-old, will stay on as c.e.o. this is a big risk with potentially huge rewards for yahoo. tumblr has not proven to be a money making website but captured the demographic of 16 to 35-year-old. also, tumblr hosts 105 million different blogs and 900 posts per second. >> if it is a success she will be a hero but even if not completely successful, it shows she ising to take risks and go after the younger generation that is highly prized for yahoo. >> as with anything, not everyone is happy about the acquisition. the tumblr us

. >> also, yahoo c.e.o. marissa mayer defends her deal with tumblr. we follow developing news in oklahoma following the devastating tornadoes including the town of moore with searchers looking hard for >> covering walnut creek, burlingame, campbell and all the bay area, this is abc7 news. >> more machines can pat themselves on the bay for being better about paying credit cards on time. in the first three months of this year, the rate really late payments, more than three months overdue, dropped 19 percent from last year. it was .85 percent and now it is just .69 percent still higher than low of .6 percent two years ago. >> the terrible storm system that hit oklahoma could be the worst natural disaster this year. >> here is jane king with the bloomberg business report. >> good morning, nearly 64 million people in a broad strip of the midwest are bracing for a third dave tornadoes with powerful storms and damaging hail from the same storm system that spun the twister in oklahoma including tornadoes that caused $27 billion in economic losses last year se

this is the biggest move yet by yahoo c.e.o. marissa mayer, who joined the company just ten months ago from google. today, she wrote on a tumblr post: "we promise not to screw it up." rebecca leeb is research analyst of digital advertising and media for the altimeter group and joins us now. welcome to you. why does yahoo want to buy tumblr? what's the appeal? >> there are several appealing things about tumblr. there's certainly the size of the audience, as you just mentioned. but also perhaps more than that, the demographics of tumblr's audience. yahoo has been losing users, losing eyeballs for years now. tumblr represents the millen yells, those 20-somethings who didn't abandon yahoo because they probably never aligned with the platform in the first place. this is a group that is incredibly important to the advertisers yahoo is is trying to attract. >> brown: explain for our non-tumblr users in the audience what it is. how has it been able to rise so fast and appeal to so many people? >> tumblr is a blogging platform that is very, very image

yahoo c.e.o. marissa mayer promising not to screw it up sealing the deal to acquire tumblr.ay to 76 in san francisco, and 82 in oakland and 87 in san jose. seven-day forecast shows 15 to 25 degrees cooler by thursday. leyla gulen? >> an accident in san jose has 101 tied up north of 87 and this is due to a car and a motorcycle. it look like c.h.p. moved everything to the shoulder but you be still looking at a slow drive from the northbound direction. kristen? >> the news continues right now [ cheers and applause ] >>> and look at that crowd, coming in from all over to times square. starting out our week on "good morning america." you're listening to "troublemaker." olly murs is here live this morning with that breakout hit. good morning, everyone. lara's fighting a little something. we have paula faris here. >> thank you. >> are you going to explain? >>tp5 robin, i'm behind the candelabra. you see what i did there? i'm behind the candelabra. >> did you have a -- >> there's medical attention standing nearby. we also have a fire extinguisher. >> don't trust you. >> hotmgu prop

yahoo's possible purchase of hulu which has bid between $600 million and $800 million. other companies interested in hulu are time warner cable and directv. it would be their second significant purchase under c.e.o. marissa mayerey announced they are buying tumblr for $1.1 billion. >> in the market for a new car or truck this could be the day to shop with some of the best deals of the year over the memorial day holiday. dealers are predict large crowds and aring to make deals to move the vehicle off the lot. the auto industry is on the verge of having one of the best sales months and dealers want to end it strong. >> shy of 6:17 and mike nicco a day sky.orial day forecast >> special tie for memorial day and independence day. now, nice to have you here on this holiday. fort bragg had a nice shower, and headed to the north next half hour to 45 minutes where our best radar returns are showing up right now. but to the north, you can see a system coming our way headed down to the south bay and it will get there probably by the end of the morning rush hour if you will on this holiday at 9:00 so scattered light showers are on the way and if you head out on the bay waters, winds at 15 to 25 knots and gusting to 30 kno

marissa mayer made. they will make at least $7 million according to her compensation package. nine months after having her own baby, this controversial c.e.o. is extending yahoo's parental leave policy. moms and dads will get eight weeks of paid leave and mothers can take an additional eight weeks. they'll also get $500 to boy things for the baby -- to buy things for the baby. 41% of college grads are only able to land a job that does not require a college degree. consulting firm says 11% are unemployed and 7% haven't had a job since graduating. it's tough to pay off that college debt if you're working at a coffee shop or if you're staying on mom and daddy's couch because you can't find a job. >> what do you burn hundreds of thousands of dollars on a degree if you're at a barista. >>> we're going to save you money on your next summer vacation. >> get ready to buy some airline tickets. >>> prosecutors talk about the evidence they've uncovered in the ricin letters case. we'll have more on that story coming up. >> the city of fargo as the red river reaches its peak is getting some good news. we'll explain. >>> in sports, a documentary film maker talks about follow