The federal government will withdraw the remaining four media reform bills from Parliament after failing to secure sufficient support from the crossbench to get them over the line.
Fairfax Media understands Communications Minister Stephen Conroy will announce the decision shortly.
Earlier Senator Conroy said the government's self-imposed deadline for passing the bills was firm, despite calls from independents to shelve the changes until Parliament returns in May.
At a lunchtime media conference, Defence Minister Stephen Smith said he was unaware of the bills being withdrawn but he did not believe such a move would reflect badly on Prime Minister Julia Gillard.
"I don't believe so [that it would reflect badly]. There are a package of six bills; two have already been passed," Mr Smith said.
Ms Gillard intervened personally this week, trying to save the reforms in two days of frantic negotiations.
Earlier this week the lower house passed two relatively uncontroversial bills that would expand the requirement for Australian content, prevent the establishment of a fourth commercial television network, and update the ABC and SBS charters to explicitly require the production of online content.
More to come...