Channel 4's current four-year deal for the UK rights to the show runs out this year and although the broadcaster is willing to take on another two series, it is not prepared to risk signing a longer-term contract for fear the show's popularity could be waning.
It is also believed that Channel 4 could be holding back the contract signing to see how 'Big Brother 6', which debuts tonight, performs.
Last year, the series performed well, attracting audiences of well over 4m or 25% each night, with 7.3m viewers tuning into the opening episode.
The previous year's show 'Big Brother 4', however, made little impact in the ratings battle and was slammed by viewers and critics for being boring.
The deal is expected to be completed in the next two weeks, with an Endemol spokesperson confirming talks are at an advanced stage.
"We are in advanced negotiations with Channel 4 in what is likly to be a two-year signing. We expect to sign off the deal in a matter of weeks."
The first 'Big Brother' contract in 1999 was for two years because producers were not sure how successful the format would be. After the first two series, Channel 4 signed for a further four years.
The new series kicks off tonight with a record 13 housemates entering the house.
'Big Brother' looks set to reprise last year's evil role, by making the unlucky 13th housemate do a week of punishing chores alongside early morning wake-up calls to see if they crack under the pressure.
The newly built house has also been designed to give the housemates as little privacy as possible, with a glass wall separating the kitchen from the bedroom and the living room being a glass box in the garden.
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