For high frequency > 1 MHz - yes, but for audio frequency is different rules
cable parameters (one kind of phone cable) as:
R = 86.2 Ohm/km (unit length set to 1 km now) L = 0.8 mH/km G = 1.6 uS/km C = 37.8 nF/km
w = 2*PI*f j = imaginary constant as j*j = -1 c = speed of light, 3E8 m/s
and one of two telegraph equation:
gamma = sqrt((R+jwL)*(G + jwC))
gamma = alpha + jbeta
alpha = attenuate in Neper per unit length (1 Neper = 8.686 dB) beta = phase constant in radians per unit length.
and 'w/beta' give phase speed
20 Hz = 0.14 dB attenuate/km and phase speed 10350 km/s or 0.034c 795 Hz = 0.77 dB attenuate/km and phase speed 54347 km/s or 0.181c 20 kHz = 2.1 dB attenuate/km and phase speed 149000 km/s or 0.496c(all loss exclusive ev. skin effect)
This effect is depend of R and C in cable works like lossy RCRCRC-chain as low pass filter and have dominate effect compare to cable inductance and conductance on low frequency - cable have to low serial inductance and to much parallell capacitance for audio frequnecy range to working as good transmission line - one of first person to discover this effect is a Pupin and use inductance in serie to compensate away much of dominate capacitance in cable - seems very strange (and easy to missunderstud) in first look, and people thinking Pupin make lot sharper low pass filters - is true, indeed, but this works with carefully selected values, distance and suffering high frequency range to make better and lower loss in usable low frequency range for (very) long distance transport.
see:
Is possible to make simular for 20 - 20000 Hz range for kilometers distance between ex. studio and big broadcast FM-transmitter etc.
- but to days is more or less obsolet ie. using modern digital communication replace old analog solution.
But telegraph equations still important and work to many GHz, and two famous example to bulid system without know how or/and respect to telegraph equation is a ATA/IDE-bus and USB 1.1 (USB2.0 is patched up with impedance matching to make 450 Mbit speed)