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Entergy will first spin off the unit to its shareholders.
NCR spun off the unit in October 2007.
Instead, it may spin off the unit to its existing shareholders.
Still, people close to G.M. stress that they could decide to simply spin off the unit.
Hertz was for many years owned by Ford, which spun off the unit in a 2005 initial public offering.
The JPMorgan analysts wrote in their note that Schneider may spin off the unit as part of a deal.
Mr. Snyder, the analyst, questioned whether it was wise to spin off the unit given the continuing losses.
AT&T could also spin off the unit along the lines of the plan it outlined last year.
Sirius, by contrast, farmed out chip development to Lucent Technologies, which later spun off the unit doing the work.
But industry observers are increasingly betting that the company will spin off News International, rather than potentially selling off the unit at a firesale price to attract buyers.
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At the end of 2004, the last full year before the spin-off, the unit had profits of $16.3 million.
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