The move is part of ITV's plan to sell off its non core assets after the Carlton and Granada merger.
Thomson is believed to have outbid five others, including film company Kodak, WPP Group, US-based private equity firm Carlyle Group and former Carlton boss Michael Green.
Bidding was initially started at £25m, but after six serious contenders came forward ITV reportedly bumped the sale price up to £40m.
It is believed that Thomson clinched the deal after offering £50m and agreeing to complete the transaction within three weeks.
ITV's sales process began in September when it disposed of Carlton Books for £3m. Later that month, the network sold its 5.5% stake in Thomson to Citigroup and UBS for £162m.
ITV is also considering selling Carlton Screen Advertising, its 10% shareholding in Liverpool football club and its stake in Australia's Seven Network.
In total, ITV's non-core assets have been valued at £550m.
An ITV spokesman said: "Yes, it is more than likely ITV will sell off the Moving Picture Company but it will be announced in due time on the Stock Exchange."
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