Ball was mooted as a frontrunner to take over from Michael Grade and it is understood he has the backing of shareholders.
The reports come amid speculation that Channel 4 chief executive Andy Duncan is likely to leave by the end of the year. Duncan has led Channel 4 for five years and has been vocal about key issues facing the broadcast industry including the recent digital Britain report.
Channel 4 would not comment on the speculation over Duncan and refused to confirm his planned departure.
ITV could face a shake-up of senior management if Ball takes the reigns. Simon Fox, the HMV chief executive, was previously the favourite to take the position but he pulled out of the race earlier this month.
Other candidates for the ITV top job include Kevin Lygo, Channel 4's director of television and content, and Ofcom chief Ed Richards.
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