The deal could form a framework for outside suppliers to take over local news services in Scotland, Wales, Northern Ireland and some English regions. News production in these areas has been run by ITV for 50 years.
Ed Richards, the chief executive of media regulator Ofcom, said the current ITV local news system was ‘unsustainable'.
STV chief executive Rob Woodward said that he is in the early stages of discussions with other Scottish media organisations over potential partnerships.
It is thought he would like to get the scheme off the ground as soon as possible.
Richards has estimated that £60m-£100m a year would be needed to fund a non-BBC local TV news service.
The BBC announced this week that it is looking to develop partnerships to share content, training and technology with local and regional newspapers and broadcasters.
ITV expects to save up to £7m a year through plans to co-locate many of its regional news services with those of the BBC. The two organisations have already discussed how they could work together to secure the future of regional news on ITV1.
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