The Northern Ireland-based group, which owns the UTV and UTV Ireland networks, said it was holding discussions over the “potential sale of its television assets”.
UTV Media is one of only two independent broadcasters to own Channel 3 television licences outside of ITV’s control. STV Group, which operates Scottish Television (STV), is the other. It owns two licences while ITV owns the other 12 Channel 3 TV licenses.
UTV offers ITV programming on its network already, while UTV Ireland, launched in January, broadcasts shows such as Coronation Street and Emmerdale.
ITV Plc did not comment on reports in the Belfast Telegraph on Sunday that it would buy the group.
UTV is set to report its results on Friday when details of a deal could be unveiled.