Two years after it successfully fought off the efforts of Carl Icahn and the plan authored by Lazard Frères to break apart Time Warner, the company seems ready to embrace it. While the timing of an expected change in the chief executive position has garnered a good deal of coverage of late, Time Warner has been moving ahead with a more important plan that would result in the split off of its majority ownership in Time Warner Cable and eventually include the spin-off of publishing and parts of its AOL unit. None of this will happen overnight, though it is...