Twitter has acquired Posterous, a microblogging and content-sharing service, for an undisclosed sum. It's unclear what Twitter plans to do with the service, with officials saying only that the site will be kept online for the time being. "The move presents a potential leg up for Tumblr, which already dominates the short-form blogging space and could soon see one less competitor if Posterous is taken out of commission," John Paul Titlow writes.

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The Wire, ReadWrite

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