It certainly looks that way, via ABC’s Jake Tapper:
Gov Pawlenty just told supporters on a conf call that he’ll announce on an exclusive interview on ABC’s This Week that he’s dropping out.
A system in which a meaningless straw poll, co-won by two individuals who will never be president, can influence a supposedly top-tier candidate to turn tail and run is illustrative of just how messed up the nominating process is. This is yet another reason for Governor Palin to defy this broken system by throwing convention to the wind and doing things her own way.
Update: USA Today has more:
Former Minnesota governor Tim Pawlenty said today he will end his campaign for the GOP presidential nomination.
Pawlenty will make a formal announcement when he appears today on ABC’s This Week. He finished a disappointing and distant third in yesterday’s Iowa presidential straw poll, well behind his Minnesota rival, Rep. Michele Bachmann.
The surprise decision by Pawlenty, who made John McCain’s short list of vice presidential picks in 2008, was first reported by Politico. USA TODAY’s Jackie Kucinich has also confirmed Pawlenty’s decision.
(h/t Adrienne Ross)