The two firms are willing to bid at least £170million ($298m) a year in the next auction - for the 2007 to 2010 seasons - according to the Guardian.
The newspaper said it had seen a letter outlining the groups' alliance which has been sent to the Premier League's 20 constituent clubs.
European regulators are keen to break BSkyB's exclusive grip on live matches, worth £340million a year, by insisting that no single broadcaster can have more than 50 per cent of all the live games.
Last week NTL agreed to buy fellow cable firm Telewest, and said it was keen to bid for some of the games.
