Less cable more net: Exactly what does Dick Parsons have in store for Time Warner?

-LENN HINDSMANN Dick Parsons' contract may be up next year, but based on reports this morning, the Time Warner ruler may be planning to go out with a bang. The WSJ reported that the company may be leaning towards selling off a piece of its cable business so it can dive deeper into the web game. So is the media giant trading traditional TV for web TV? Rumors are also circulating that the company may be eyeing another major internet operation like MSN or recent start up Joost.com. Oh, the irony! The theory behind the strategy, apparently, is that cable will become increasingly commoditized and less relevant in a world with the Internet and Internet TV, etc. It was, of course, exactly this sort of thinking that led to the "transformative" AOL-Time Warner merger in the first place. Without concurring that cable will become less relevant (somebody has to plumb the pipes), this would lend credence to the idea that the AOL-Time Warner merger wasn't a colossal, bubble-headed Time Warner Considers Selling Cable, Investing in Internet [Seeking Alpha]