Rumor: Yahoo! has purchased Flickr

Yahoo! supposedly purchased Flickr last week and will make an official announcement on March 1. I have heard similar chatter and frequent Flickr sightings on the Yahoo! campus. How will Flickr manage its community in a buyout situation? What will happen to pro-level users? It seems like Pyra all over again.

[Update 22:02] Two sources claiming one degree of separation tell me the rumors are true. Purchase price is rumored to be around $40 million. Caterina Fake neither confirms nor denies the claim. I guess we will know more in five days.