FACEBOOK IS NOT GOING TO BID FOR TUMBLR: Tumblr Is Yahoo's For The Taking, Say Sources

There have been reports that Yahoo's board will meet tomorrow to decide whether or not to make a $1.1 billion cash offer to buy Tumblr. There have been other reports that Facebook may swoop in with its own offer. After having conversations with two sources, we believe Facebook is not going to make an offer. There is speculation that Tumblr's banker, Frank Quattrone, leaked word of Facebook's interest in hopes of starting an auction and driving up Tumblr's price with Yahoo. We're told no such "au...