Last year, Yahoo EVP Hilary Schneider and then-Media Group head Scott Moore had a summery seaside dinner with Demand Media co-founder and CEO Richard Rosenblatt in Santa Monica, Calif., right around the corner from the online publishing company’s HQ.

While many speculated that Yahoo could be doing some friendly kibitzing to get a sense of where the eclectic network of general- and special-interest sites was headed, for a possible acquisition, nothing came of it.

But now, a year later, with recent indications that a major strategy for new CEO Carol Bartz will finally follow through on making Yahoo’s massive but disparate service more social, especially in its content offerings, several sources close to the company tell me another look-see at Demand is likelier than ever.

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When I was in Los Angeles recently, I stopped by the Santa Monica offices of Demand Media, the network of social networking sites and apps maker, because of the rumors that I had heard swirling around that Yahoo was looking to purchase it for up to $2 billion.

As it turned out, reports of that possibility were greatly exaggerated.

In fact, Rosenblatt played down the idea of any Yahoo offer on the record, noting he was not interested in selling at this point anyway. And Yahoo sources confirm this and said that there has been no offer floated.

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