Yahoo rumors ahead of Monday's event include $11 billion Tumblr buy, Flickr updates

Earlier today, Yahoo sent press invites to a "product-related" event in New York City Monday afternoon and there are already two separate rumors about the company's plans. The first, from Bloomberg, concerns the event specifically and cites a "person familiar with the matter" reporting we'll hear about new updates for Yahoo's once-mighty Flickr photo service. The second is from AllThingsD which has upgraded rumors of a Tumblr purchase from possible to possibly imminent, saying the company's board will meet Sunday to decide whether it will make a $1.1 billion all-cash offer for the site. Since new CEO Marissa Mayer took over Yahoo has made a number of acquisitions with a focus on improving its homepage, content and app offerings including Flickr. That announcement is also penciled in for the 20th, but whatever actually goes down you can be sure we'll have the details as they're unveiled around 4PM ET.