Future Publishing is seriously considering making a bid for the BBC Magazine portfolio, which includes the likes of Radio Times and Top Gear.
That's according to The Guardian, which claims that the Bath-based company "has been actively involved in the sales process surrounding BBC Magazines" though understands that the final decision on a potential offer has yet to be made.
The KPMG handled sale is is expected to receive two non-binding offers from unnamed parties this week. The rival offer is believed to stem from German publisher Bauer, though current Radio Times publisher IDC would likely object to such a move on anti-competiveness grounds.
It's also understood that the BBC is insistent on a sale that includes all of its 34 magazine titles, having already rejected several offers for individual publications.
The Guardian believes Future would need to raise around £100m if it hopes to concoct a successful deal. With a current market cap of £89m it is speculated that a share sale and loan would be needed to raise the capital.