If Netflix decides it needs to source content, instead of only distributing it, then Yahoo has enviable assets: millions of users, deep advertiser relationships

If Netflix decides it needs to source content, instead of only distributing it, then Yahoo has enviable assets: millions of users, deep advertiser relationships, and some homegrown content like Yahoo Autos (though no premium content). Yahoo is most definitely a viable company. In the worst case, it needs to recast itself as a media company -- not a tech company. When compared to AOL, Viacom, the NY Times, and other "old" media companies, Yahoo is a very viable company.