The contract to broadcast the show exclusively on Channel 4 ends this year and the broadcaster could lose its grip on the highly rated series if a big money offer were to present itself from another network.
It is understood that Channel 4 is not in a position to negotiate an exclusive deal and that a bidding war could ensue after the eighth series of the Endemol-produced format ends in 2007.
Lygo went on the defensive at the launch of Channel 4's autumn schedule yesterday. He said: "I'm sure ITV has been in conversations with Endemol. I think they have been for about a year, and there is some acceleration now.
"Next year ['Big Brother'] is on Channel 4. Beyond that it hasn't been decided but we want to keep it on the channel.
"If it goes, it will be with our full knowledge, but I don't want that to happen and I can't see it happening", he said.
The contract for 'Big Brother' is believed to cost Channel 4 over £10m a year, but the rewards it reaps are far higher, with advertising, interactive and online revenues making the show a money-spinner for the station.
From voting alone, Channel 4 pulls in over £3m, while the Carphone Warehouse's sponsorship of the show is another multimillion-pound deal.
This year, there was an explosion in ringtones, with Tourettes sufferer and eventual winner Pete being the most popular download. Sales of a Pete ringtone are estimated to pull in as much as £1m.
Series seven of 'Big Brother' pulled in a total audience of 8.2m for the final of the show, achieving a mammoth 45.6% share of the total viewing audience.
Unofficial Barb overnight figures recorded an average of audience of 7.7m for the final show, in which Tourettes sufferer Pete walked away with the £100,000 prize after receiving 61.2% of the final vote.
This figure was up on last year's series finale, which averaged 6.7m viewers, and peaked at 7.8m.
The show has trounced ITV's rival reality show 'Love Island' in the television ratings war.
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