New Reports: Comcast to Walk Away from Merger

Following up on yesterday's short post, we get word this morning via Alex Sherman at Bloomberg that his sources indicate that Comcast will drop their intended merger with Time Warner Cable.

Comcast Corp. is planning to walk away from its proposed takeover of Time Warner Cable Inc., people with knowledge of the matter said, after regulators decided that the deal wouldn’t help consumers, making approval unlikely.

A formal announcement on the deal’s fate may come as soon as Friday, said one of the people, who asked not to be named discussing private information.This development comes just after word leaked out that the FCC was planning a hearing on the merger - which by most accounts meant that…