Arguably the most troubling indicator for media in recent months hasn't been the recession-related loss of revenue for traditional forms like print and broadcast. That has been somewhat expected, if uncomfortable.

Rather, the surprise and grief have come from the sudden stagnation online, where there was a perceived room for immense growth in an emerging revenue environment. If salvation lay in the hands of digital, then any sign that it might falter was highly problematic.

Doubts have been raised in recent months on the effectiveness of the platform in delivering conventional advertising. In much the way content has had to revisit its approaches, many were suggesting advertising would have to devise new ways to reach digital audiences.

But Yahoo is saying the situation has stabilized and an Associated Press report suggests the online advertising slump is done. While there is no suggestion yet that a boom is imminent, it seems the downward trend has stopped.