HP spinning off its printer business?

A little on the inside baseball tip, but there's a rumor going around that HP is going to spin-off their printer and imaging division into a new company which will keep the name "HP" and the company that remains changing its name to
"Innovative Technologies". "Innovative Technologies" sounds exactly like what you'd call some supersketchy, super vaporous tech company, but setting that aside, it's not like HP hasn't spun off a major division before; in 1999 they let loose their division focused on measurement equipment and turned it into Agilent.