But, he added, "it's a bit like an elephant that has been dropped out of an airplane. At around 10,000 feet, it is technically still alive. But it is falling fast ... and its odds of survival are pretty low when it hits the ground."
Comcast calling off mega-merger with Time Warner: report →
Analyst Craig Moffett, of MoffettNathanson, said in a blog post late Thursday that the deal "isn't dead yet."