Jeff Bewkes has his first order of business when he becomes TimeWarner CEO

TimeWarner is now conveniently embracing a plan to break up the media giant in an effort to create shareholder value. With incoming CEO Jeff Bewkes many have predicted that he will be the one to break up the company by spinning off it's cable and AOL businesses. With this new embrace, will a Bewkes announcement come before the new year? None of this will happen overnight, though it is possible that when reporting an unexciting quarter next week the company will make some reference to a split-off of cable, perhaps in an effort to keep an otherwise sagging stock from sagging some more.The plan to split off its 85% ownership stake in Time Warner Cable seems to have picked up speed since the company's board meeting in London last week. While any actual split would not occur until after the first quarter of next year, when it becomes a non-taxable event, outside advisers who would plan for such a thing say it is underway. Time Warner Is Embracing Plan To Break Up Company [CNBC]