Comcast is reportedly planning to drop the Time Warner Cable deal

Rumor is that Comcast is prepared to back out of the buzzworthy merger with Time Warner
(Image credit: Joe Raedle/Getty Images)

The much-discussed merger between America's two largest cable providers might not be happening after all.

Bloomberg reports that Comcast plans to back out of the its proposed $45.2 billion purchase of Time Warner Cable, with a formal announcement coming as soon as Friday.

The news comes after officials at the Department of Justice expressed concern that "consumers would be harmed" by the deal, indicating that federal approval was unlikely.

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Meghan DeMaria

Meghan DeMaria is a staff writer at TheWeek.com. She has previously worked for USA Today and Marie Claire.