Comcast Corp. is planning to walk away from its proposed takeover of Time Warner Cable Inc., people with knowledge of the matter told Bloomberg News, 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.

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CNBC reports the merger deal is likely to be officially called off as early as Friday. (0:59)

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The FCC recommended a procedural move that could potentially sink Comcast’s proposed acquisition of Time Warner Cable. WSJ’s Shalini Ramachandran joins MoneyBeat. (3:01)

[flv]http://www.phillipdampier.com/video/CNBC Comcast-TWC merger setback 4-23-15.flv[/flv]

The Wall Street Journal is reporting the FCC is issuing a “hearing designation order” for the Time Warner Cable-Comcast proposal, with Henry Blodget, Business Insider. (2:10)

[flv]http://www.phillipdampier.com/video/CNBC Faber Report Comcast-TWC deal 4-23-15.flv[/flv]

Spelling the death knell for the deal, CNBC’s David Faber reports what will happen if the deal falls through. (3:38)

[flv]http://www.phillipdampier.com/video/Bloomberg FCC DOJ and the Case for Blocking Comcast-TWC Deal 4-23-15.flv[/flv]

Comcast earned the opposition of the Federal Communications Commission, along with the Department of Justice, as it seeks to complete a $45.2 billion acquisition of Time-Warner Cable. Bloomberg’s Alex Sherman Reports on “Bloomberg Surveillance.” (2:17)