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File it under "party rumors" for now, but I hear that Yahoo, fresh from buying video editing service Jumpcut last week, will pick up another company today.

My source would only share the vaguest points about the deal, passed on by a friend in the Mergers and Acquisitions department. But he did explain that Jumpcut probably sold for $12-15 million. Yahoo typically pays $1 million per employee when it buys a startup, he said.

Other than that, he could only reveal "it's something to do with the Internet." Well geez, that helps. Care to guess?

Earlier: Yahoo buys Jumpcut, the actually useful video site [Valleywag]