Time Warner's (NYSE: TWC-WI) wireless play still in limbo

Wireless, with or without Clearwire (Nasdaq: CLWR), is still in the show-me stage at Time Warner Cable (NYSE: TWC-WI), TWC Chairman-CEO Glenn Britt said during a call with analysts and the media this morning. As for now, things don't look encouraging.

"We are basically exploring whether packaging wireless data with our wireline offerings is something that consumers want and if there's a formula that people want. We're trying different models, different products what have you (and) to date our results are not very impressive and pretty inconclusive," Britt said.

The Time Warner boss did promise that the MSO would go ahead with looking at wireless, including the possibility of purchasing more spectrum, but didn't sound over-enthused, noting, "We're trying to spend not too much money while we're doing it."

Britt's comments came as Time Warner Cable announced fourth quarter profits that were up 22 percent over the same period a year ago ($392 million versus $322 million) on revenues of $4.8 billion. At the same time, TWC continued to bleed subscribers with another 141,000 cable TV subs fleeing during the quarter even as high-speed data business grew.

For more:
- see this news release

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Same old story: Time Warner Cable (NYSE: TWC-WI) revenues up, basic subscriber numbers down