Yahoo! is buying Flickr as being reported. The announcement contains quite a lot of information and answers a number of questions that people nay have. Primarily, Flickr will remain as it is, but will have the funding behind it to take the deveopment cycle to the next level.
Yahoo will gain features in other areas from Flickr and you'll be able to login to Flickr using an existing Yahoo account for example. Check out the announcement for further information.
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