UTV Media has confirmed it is in talks to sell its television assets, which include UTV Ireland.
The company told the Stock Exchange this morning that "discussions are ongoing and may or may not result in such a transaction being agreed".
A further announcement will be made when appropriate.
Media speculation over the weekend linked UK company ITV with a move for the television assets. TV3 owner Liberty Global - billionaire John Malone's media business - has a 10pc stake in ITV.
ITV declined to comment.