Reports were running rampant late last week that Katie Couric, the once favorite face of the Today Show, may be abandoning network television for Yahoo. AdvAge reported on Saturday that a deal bringing Couric to Yahoo could be announced before Thanksgiving.

Marissa Mayer, the CEO of Yahoo, has been working diligently on making Yahoo a destination site again, the way it was in the 90’s. Last week we reported that Yahoo had 400 million mobile users per month. Mayer has made several aggressive moves to boost up content delivered through Yahoo.com and on their mobile properties.

Couric is currently the host of a daytime talk show that is distributed by ABC/Disney.

This wouldn’t be the first high profile hire away from traditional media to Yahoo. Since arriving at the company, Mayer has also brought aboard David Pogue, a tech and gadget reviewer, and Megan Liberman from the New York Times.

A decision on whether or not to renew the daytime “Katie” program will be made next month. However an unnamed source told AdAge that Couric will continue to work with ABC News while working for Yahoo as well. Couric stands to get a lot more exposure via Yahoo than she has on any of her television gigs since leaving the Today Show. After leaving NBC, Couric had a failed attempt at hosting the CBS Evening News, a staple once hosted by newsman Dan Rather.

While AdAge suggests Couric would perform dual duties, the Hollywood Reporter has said that the Yahoo deal would end her time on the television screen. Couric is reportedly in the middle of a three year deal with ABC worth $40 million dollars which would mean getting her to come to Yahoo would not be cheap.

Some reports suggest that Couric could end up at CNN where her former producer of the Today Show, Jeffrey Zucker, has taken the helm.

If she goes to Yahoo she would be hosting a newsmaker interview program that would be featured on Yahoo’s home page. Couric has already been featured on Yahoo in a joint programming venture between ABC News and the Internet Giant called “Katie’s Take” which according to THR was most repurposed content from her ABC program.