Angelo Fernandez | @angelobfs In this weekly blog post we recap the latest social media news, trends and headlines. Sometimes we'll throw in a few viral videos because after all, it is Friday.

WSJ to Launch a Social Network - The Wall Street Journal will soon launch a business-minded social network along the lines of LinkedIn.

Yahoo! Board Approves Tumblr Deal - Yahoo! board has unanimously approved a deal to purchase Tumblr for $1.1 billion. That may seem like a steep price given that it reportedly only booked $13 million in revenue last year.

Facebook Unveils Verified Pages - As we announced earlier this week, Facebook takes a page from Twitter's playbook to give high-profile accounts an added level of authenticity.

CNN Launches CNN BuzzFeed - Powered by CNN’s current and archival video footage, BuzzFeed will create unique mash-up news videos tailored for the social web.

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