Time Warner President-COO Jeff Bewkes has signaled his belief that TV and not the internet holds the key to video on demand's future, reports AdAge.

Bewkes stated his opinion that VOD via the internet receives media coverage that's disproportionate to how big the audience will actually be. Specifically, he believes interactive TV and its wide audience reach will ultimately make more sense than shows delivered through iTunes or other online store. He also said VOD for portable devices could include ad-supported models.

The comments by Bewkes were followed by speculation that Time Warner could be looking to reduce its cable holdings. Doing so would free up cash to invest in more online ventures, including AOL, which recently held an upfront-esque "First Look" for online advertisers. Such a decision would be made at the company's next board meeting.