Yahoo's fate is hanging in the balance: two declarations of intent, a dismal set of fourth quarter results and an underperforming quagmire of assets.
After reporting a $4.4bn loss for the last three months of 2015, announcing a 15% reduction in staff, and writing down the value of assets including Tumblr, the blogging site it bought for $1bn in 2013, Yahoo chairman Maynard Webb revealed that his board will "explore additional strategic alternatives" for the company and is "continuing work on a reverse spin". It's been mooted for a while but today's comments were the clearest statements of intent.
Sources suggest that a reverse spin could see Yahoo creating a new company to house all of its assets, with the exception of its Alibaba shares, and subsequently hoist up the for sale sign.
This sits at odds with CEO's Marissa Mayer declared intention to continue with a program of transformation for the business, although, if S&P Capital IQ's analyst Scott Kessler, who has been talking to press in the US, is to believed, Mayer is likely to walk out of the Silicon Valley door sooner rather than later.
Yahoo7,the local operation which is a 50/50 joint venture with Seven, is a minute piece of the overall Yahoo pie - contributing, by way of a cursory examination of earnings statements, roughly 2% of its overall revenues.
The joint venture outperforms other parts of the wider company by executing high volumes of local video content - believed to be in the region of 10% of total video turnover for the global firm.
It is possible that the troubles experienced by Yahoo could play out very neatly for Seven, allowing it to ultimately pick up the remaining 50% of its business at a reduced cost.
However, it is always fascinating to speculate on who might acquire Yahoo, and draw conclusions on what friction it might cause - either directly to Seven, or more widely, in the local market.
Alibaba has been named as the obvious suitor, on account of the fact that a deal would allow it to buy back its own shares.
Telco provider Verizon is rumoured to have thrown its hat into the ring before. More interestingly, however, a handful of sources have namechecked News Corp.
Yahoo would give News the search and display network it is currently lacking, and may allow it to shift up a gear closer to Google and Facebook.
Finally, a 100% Seven-owned /Yahoo7 firm could play out very well in a year in which media deregulation hangs heavy in the air, giving it extra clout in a market which could be rocked by M&A sprees.
It all points to a very interesting time ahead.