Time Warner plans to spin off Time Warner Cable at long last

Time Warner Cable, which just endeared itself to New Yorkers with a whole mess of HD channels, is finally getting a full break from parent company and all-around media conglomerate Time Warner. This has been speculated about for years, and a portion of TWC was spun off into Bright House Networks in 2003, but the clean break should give both companies a good shot at doing what they both do best: raking in obscene amounts of cash. There's no word on the timeline or method for the spin off just yet, only a promise to finalize an agreement "soon." [Disclosure: Engadget is part of the Time Warner family]