Yahoo Inc. (NASDAQ: YHOO) reportedly has been in talks to purchase blogging site Tumblr. Yahoo said it's holding a press conference on Monday in New York, where it's expected to announce the acquisition.

The company sent out invitations to the event on Friday, asking members of the press to “Join us as we share something special."

CNBC tweeted that Yahoo CEO Marissa Mayer will speak at the event, which is scheduled for 5 p.m. EDT.

Yahoo will hold a product-related news event in New York City on Monday; CEO Marissa Mayer to speak at event. $YHOO

Yahoo CEO Marissa Mayer Reuters