ProSiebenSat.1, a major commercial broadcaster in Germany, is in preliminary discussions with publishing house Axel Springer about a possible merger.
The Reuters news agency cited sources who said a combined company would strengthen a push into digital media.
Last month, it was reported that the 7NXT division of German media company ProSiebenSat.1 was close to acquiring a majority stake in the DOSB New Media arm of the German Olympic Committee (DOSB).
Springer tried to acquire ProSiebenSat.1 a decade ago, but the deal was blocked by competition and media authorities. However, Springer won a legal case last year against Germany’s media watchdog, the KEK, with Germany's federal administrative court ruling the merger would have been unproblematic from a media perspective.
The Wall Street Journal newspaper said a deal was being considered whereby ProSiebenSat.1 would be the senior partner.