Time Warner Inc (TWX) is in talks to buy a major stake in Vice Media, valuing the media company at about $2.2 billion, Sky News reported, citing sources.
The talks were at an advanced stage but some final details were yet to be agreed on, the broadcaster reported.
In one of the potential structure under discussion, Time Warner may combine its cable news network HLN with Vice in return for roughly half the enlarged company, Sky reported.
Vice Media, the New York-based group whose edgy reportage has proved a hit with young people, said it April that it plans to sell more content to mainstream TV groups.
Time Warner declined to comment. Vice Media could not be immediately reached for comment.
(Reporting by Supantha Mukherjee in Bangalore; Editing by Savio D'Souza)