QuoteTime Warner currently owns around 84 percent of Time Warner Cable. The media giant, which has been struggling of late, has been rumored to be discussing an AOL partnership with Yahoo. "A complete structural separation of Time Warner Cable, under the right circumstances, is in the best interest of both companies' shareholders," CEO Jeff Bewkes said in a release. The company also reported first-quarter earnings on Wednesday. Gains in its Turner cable networks and phone and broadband division were offset by slow ad sales at AOL and a decline in the Filmed Entertainment division.