Edwards dropping out of Presidential race

John Edwards is out:

ABC News' Raelyn Johnson and Ed O'Keefe Report: Former senator John Edwards, D-N.C., will drop out of the Democratic presidential race on Wednesday.

"It just became clear it wasn't going to happen," as senior Edwards advisor tells ABC News.

MSNBC reports Edwards will make the announcement at 1 PM (Eastern time) in New Orleans -- where he started the campaign in December of 2006.