Ahh yes, I remember a particular Seven News Sydney reporter (who I believe is no longer on our screens) really bagging the idea. If that tweet is still up, someone should re-post it!
I agree, Seven will probably eventually be brought out by either News Corp or (less likely, but perhaps the preferred scenario by most on this forum) NBC Universal.
Although they were complacent with their on-air product and lost it to Seven during the course of the 2000s, didn’t Nine actually have a very good online presence with ninemsn back in the day?
From what I remember, Seven experimented with a few online brands (seven.com.au, i7, i7AOL, ALO7,) until settling with Yahoo7 which stuck around until fairly recently.