Complex sentence: On May 19,2013 the Yahoo board approved a $1.1 billion purchase of blogging site Tumblr, and the company's CEO and founder David Karp will remain a large shareholder.
Split into simpler sentences: On May 19,2013 the Yahoo board approved a $1.1 billion purchase of blogging site Tumblr. Tumblr's CEO and founder David Karp would remain a large shareholder.