As part of the deal, it is understood that ITV and either Nickelodeon or Disney will broadcast each other's branded shows. This will give one of the satellite broadcasters massive exposure on terrestrial television and for ITV a digital audience for its CiTV programmes.
An ITV spokeswoman declined to confirm speculation that talks involve Nickelodeon or Disney, but did admit that "discussions with potential partners are taking place."
News of the talks with Disney comes as the American broadcasting giant moves ahead with its plans to launch its first wholly advertising-funded UK television channel. Called ABC1, and broadcasting on Freeview, the channel will start broadcasting this autumn.
The move effectively ends plans mooted last year by ITV chief executive Charles Allen to create a digital ITV channel for children. The spokeswoman added: "That is something that has been off the agenda for some time."
The dumping of the children's channel is not believed to affect plans for the launch of a third mainstream ITV channel dubbed ITV3, targeted at those with an "appetite for drama" before the end of the year.
This latest development comes days after it emerged that ITV could face a massive shortfall in advertising revenues due to a slump in audience share.
±±¾©Èü³µpk10 magazine reported last week that Ofcom could give advertisers the right to pay less for slots if audiences fall. ITV denied this could lead to a reported shortfall of £100m, instead putting the figure at around £30m.
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