Tensions are building around Yahoo's annual shareholder meeting, which takes place this year on August 1.

A source has revealed that Time Warner, which has been in talks to merge AOL to Yahoo since February, may make a final decision after that point.

The delay may be due to concerns about potentially major changes in Yahoo's management. Microsoft and Carl Icahn have begun pressuring Yahoo to shaft its existing board. In return, Microsoft will propose another buyout.

After a debilitating series of executive departures and news of its fourth reorganization in two years, Yahoo may prove more amenable to its rival. In a Monday release, the company reported being "ready to enter into negotiations with Microsoft" again. Shares leaped 10 percent that day.