The latest news to make rounds in the web world is that the blog community  MyBlogLog has been acquired by Yahoo! for $10 million. There is no conformation of the news by  MyBlogLog or Yahoo!. In the last 24 hours Yahoo! has already bought  Bix and a mobile company of Sweden,  Kenet Works. Seems like Yahoo! understands the importance of blog communities which have a large influence. Yahoo! has  always laid importance on community building tools and enjoys a powerful position in the social media.