Tumblr goes on sale

Verizon Communications Inc is seeking a buyer for its blogging website Tumblr, the Wall Street Journal reported on Thursday, citing people familiar with the matter.

The ongoing sale process, which may not result in any transaction, comes as the wireless carrier tries to improve the fortunes of Verizon Media Group, the report added.

Verizon Media Group, formerly called Oath, is the digital media umbrella that owns more than 50 brands, including HuffPost, TechCrunch and Tumblr.

Verizon declined to comment on the WSJ report.