The investments from cable companies are said to have roots in a desire to expand beyond wired data. In some cases, the cable networks are looking into co-developing handhelds that would tap into the content they already host as part of their TV deals, according to the report. Their investments are likely tied to stakes in Xohm that would allow them to buy bulk access to the WiMAX service for new, related services.

WRONG! They're investing in alternative last mile technologies because it's a fundamental pillar of their strategy to own the last mile. You cannot collude and lever everyone else out of business without controlling it. It has nothing to do with handheld devices and repurposing content. Sure, there might be a handheld device, but that's a red herring. The gold is in being the bridge troll.