Yahoo! Inc. (NASDAQ:YHOO) is planning to release updates to the firm’s Flickr photo-sharing site today, planned to declares that the board has permitted a $1.1B purchase of blogging network Tumblr Inc

A person familiar with the matter reported, who requested not to be identified for the reason that the information is private, that Yahoo CEP Marissa Mayer will aspect changes to Flickr at a press event in New York. Directors of Yahoo approved a buy of Tumblr yesterday, the New York Times and Wall Street Journal declared, quoting unidentified people familiar with the matter.

Mayer has been squeezing Yahoo’s services as well as inserting features designed to win back users and advertisers, who have escaped the Web portal in support of competing sites like Facebook Inc. (NASDAQ:FB) and Google Inc. (NASDAQ:GOOG). Improvements to Flickr in December assisted Yahoo top 300M monthly mobile users, increased from just 200M at the end of the previous year.

A purchase of Tumblr would insert a social network of 108M blogs that’s popular with a younger audience.

A spokeswoman for Tumblr, Katherine Barna  stated that didn’t react to multiple appeals for comment. A spokeswoman for Sunnyvale, California-based Yahoo, Sara Gorman refused to comment.

Mayer, since CEO July, had modest to show for her attempts to turn around the firm as of previous month, at what time Yahoo declared a decreased in its major display-advertising business and issued a sales estimate for current quarter that may dropped short of analysts’ predicts. Mayer’s push to revamp products like Yahoo’s home page and e-mail have complete little headway to reverse a drop in display, an area wherever Google and Facebook are gaining ground.