Yahoo has scheduled a product event in New York City for Monday, May 20. This comes at a time where rumors are flying around that Yahoo is interested in picking up Tumblr. It follows that Yahoo could use this event to announce a buyout, partnership, or something else related to Tumblr, which gives the Tumblr rumor a bit of fire.
There are plenty of other things Yahoo could be planning for the event, but the rumored Tumblr deal seems the most likely, especially since this event has been hastily thrown together. Of course, we'll cover the event and let you know just what happened at the event. Until then, we'll keep speculation to a minimum.