The deal is about £70m ($101m/B112m) short of what German media giant Kirch had asked, but still significantly higher than the £55m ($80m/B88m) the two networks were originally prepared to pay for the matches next summer.
The deal, which is likely to be finalised by the end of the week, would give the two broadcasters television coverage of next year's finals in Korea and Japan on two terrestrial channels. The agreement is also likely to include an option on the rights for the 2006 World Cup in Germany.
If the deal does go ahead this week, it will mark the end of a year-long wrangle between Kirch and the UK networks which hit a crescendo this summer when Kirch complained to the Office of Fair Trading (OFT) about the anti-competitve behaviour of the UK broadcasting laws.
Kirch had said the broadcasters were acting like a cartel by submitting an original £50m ($71.82m/B78.9m) joint bid for the rights.
Prisma, paid £821m ($1.18bn/B1.30bn) for all European TV rights to next year's World Cup.
