FHM has previously placed little emphasis on above-the-line advertising.
Its last TV campaign, in 1998, was by Bartle Bogle Hegarty. It used the idea of "FHM Warning", which was issued to men who failed to measure up to the magazine's standards of behaviour. NMI has since been used on a project basis.
Despite its fall in circulation, FHM remains the clear leader in its sector and its newsstand sale exceeds the combined totals of its nearest rivals.
A spokesperson for FHM confirmed the magazine was in talks with Burnett about strategy, but added that there was no formal agreement and no contract had been signed.
The FHM group marketing manager, Nial Ferguson, started the review process in March. It is believed the TV drive will break this summer.
In December Emap Elan axed its FHM spin-off magazine FHM Bionic only three months after its frequency increased from biannual to monthly. Its circulation had dwindled to 45,000.