US media company Discovery Communications has entered into exclusive talks to acquire cable television network owner Scripps Networks Interactive, according to multiple reports.
Earlier this month it was reported that Discovery and rival media company Viacom had held separate merger talks with Scripps.
However, the Reuters news agency said Discovery, which has targeted Scripps on previous occasions, has now moved into exclusive discussions for a deal that is set to be worth in excess of $12bn (€10.3bn). A deal could come as soon as next week.
Discovery operates international sports broadcaster Eurosport, while Scripps, which owns various entertainment channels, last month participated in a funding round for US OTT service fuboTV.
Scripps also operates Polish media company TVN, a major sports broadcaster in the country.