The Hit 40 UK, which is owned by Capital Radio, Chrysalis, GWR and Scottish Radio Holdings, was rebranded in January following 10 years as The Pepsi Chart, which had its own TV show on Five.
The programme launched in 1998 with 650,000 viewers, which at the time was one of the channel's highest ratings. The show was taken off air in May last year when its audience collapsed to just 100,000.
According to Rob Corlett, managing director of Hit 40 UK, the company has been talking to a number of broadcasters about launching a show and is now talking to just three major channels.
"We're talking to three major broadcasters, but it's very early days. It's important to find the right broadcaster with the right audience," Corlett said.
If negotiations are successful, then a show could launch later this year, which would share content, such as interviews with pop artists such as Christina Aguilera and Girls Aloud, with the radio show. The brand would also be cross promoted across both platforms.
The news comes as competition increases among the pop charts. At the end of last year, Emap ditched the Pepsi Chart from its FM stations and replaced it with its own Smash Hits chart.
The Hit 40 UK is broadcast across 95 analogue stations and draws around 3m listeners. This compares with Smash Hits, which is broadcast to around 1m listeners. The BBC's Top 40 show draws around 2.5m listeners.
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