SMG is also thought to have held talks with Granada’s ITV partner Carlton Communications, but Carlton is understood to have balked at the price.
The ITV interests of SMG, which also owns Virgin Radio and the Herald newspaper, have been valued at as much as £350m, but it is thought unlikely that Granada will pay this much.
There has been speculation for some time that SMG would sell its TV assets in an effort to clear some of its almost £400m debts.
Any bid for SMG’s TV assets from Granada, which already owns an 18% shareholder in SMG and has an option to buy the two ITV franchises, should spark a competition inquiry as it would push its market share over the national limit.
However, changes to broadcasting ownership announced in the Communications bill, which allows for the creation of a single ITV company, could clear the way as long as the advertising is sold separately from that of the rest of Granada’s ITV interests.
Granada has been interested in acquiring SMG’s ITV stations for some time, but if a deal fails to come off other buyers are thought to be interested, including venture capital firms Apax & Partners and Candover.
Scottish TV's well-known makes programmes include long-running detective drama Taggart.
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