The Financial Times says that the private equity consortium, whose bid was rejected earlier this week by ITV, would sell off its London headquarters on Gray's Inn Road and cut production costs.
Goldman Sachs Capital Partners, Blackstone and Apax Partners, which is advised by Greg Dyke, have approached ITV about buying a controlling stake in the company, but were knocked back on the grounds that the deal would not be in the best interests of shareholders.
Initially, shares in ITV surged on the news, but yesterday the share price fell by 2p to 126p, as questions arose over whether the takeover would succeed.
Other cost-cutting moves reported in the FT today include more efficient spending on programming, a more aggressive digital strategy and moves to stem the loss of viewers and ad revenue at the flagship ITV1 channel.
The newspaper also reports that the consortium would bid for rights to more sporting events and series such as 'Desperate Housewives' and 'Lost', both presently screening on Channel 4, and 'House', which runs on Five.
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