--- includes/content.inc.orig	2011-07-07 11:46:49.000000000 -0400
+++ includes/content.inc	2011-07-07 11:48:09.000000000 -0400
@@ -277,10 +277,6 @@ function ctools_content_render($type, $s
 
     $content = $function($subtype, $conf, $args, $pane_context, $incoming_content);
 
-    if (empty($content)) {
-      return;
-    }
-
     // Set up some defaults and other massaging on the content before we hand
     // it back to the caller.
     if (!isset($content->type)) {
@@ -291,6 +287,10 @@ function ctools_content_render($type, $s
       $content->subtype = $subtype;
     }
 
+    if (empty($content->content)) {
+      return $content;
+    }
+
     // Override the title if configured to
     if (!empty($conf['override_title'])) {
       // Give previous title as an available substitution here.