Comcast's bid to acquire Time Warner Cable is reportedly dead.

According to Bloomberg, the cable giant will ditch its effort to purchase TWC. A formal announcement could come this week.

The move comes after Justice Department officials reportedly concluded that the deal would be harmful to consumers.

Then, the Federal Communications Commission, the other federal agency that must approve the deal, called for a hearing designation order, according to The Wall Street Journal. That turns the proceedings over to an administrative law judge, which doesn't usually happen unless the FCC is opposed to the deal.

The FCC did the same thing in 2011 with the AT&T-T-Mobile deal, which eventually fell through.

Earlier this week, meanwhile, several top Democratic senators—Al Franken, Bernard Sanders, Edward Markey, Ron Wyden, Elizabeth Warren, and Richard Blumenthal—penned a letter to the DOJ and FCC, which urged them to reject the deal.

"We believe that Comcast-TWC's unmatched power in the telecommunications industry would lead to higher prices, fewer choices, and poorer quality services for Americans—inhibiting U.S. consumers' ability to fully benefit from modern technologies and American businesses' capacity to innovate and compete on a global scale," they wrote.

The senators argued that a combined Comcast-TWC would be able to "defeat competing TV and Internet companies and stifle American innovation across the industry." Since Comcast owns NBCUniversal, it would have "incentives and means by which to extract higher prices from other multichannel video programming distributors and prioritize its own programming over that of competitors."

Yesterday, Comcast penned a blog post that was intended to "set the record straight" on the benefits of its Internet Essentials program, which provides cheaper service to low-income individuals, and was a condition of the NBCUniversal deal.

As the New York Times noted this week, Comcast has cited Internet Essentials as proof that the company can adhere to merger conditions, but critics claim Comcast has fallen short.

Comcast was supposed to make Internet Essentials available to 2.5 million low-income households, for example, but has thus far connected 450,000. According to Comcast, that equals "over 1.8 million low-income Americans, [which] is larger than the populations of 96 of the 100 biggest cities in the United States."

"The result also eclipses similar broadband adoption efforts, which collectively have not been able to reach even a quarter of that number of households," Comcast said. "What's more, the six-month period from September 2014 through February 2015 was the most successful period in the program's history, with nearly 90,000 new Internet Essentials enrollments.

Yesterday, Comcast also touted its security solutions at the RSA Conference, which it promised to extend to TWC.

If Bloomberg's report is true, however, all this lobbying has not swayed federal authorities. Stay tuned to see if Comcast-TWC ends up like AT&T and T-Mobile.