Sony Pictures Networks has been given a 60-day window to submit an offer to retain rights to the Indian Premier League Twenty20 cricket competition, according to the Times of India newspaper.
Sony, formerly known as Multi Screen Media, has rights for the event through to the 2017 edition.
The next cycle of rights on offer from the Board of Control for Cricket in India will start with the 2018 edition, but the length of the potential deal has not been disclosed.
Sony reportedly has the right also to submit a counter offer if another media company outbids the broadcaster beyond the period of exclusive talks.
The BCCI is targeting a 100-per-cent increase in the rights fee for the next cycle, the report added. Pay-television broadcaster Star India is also interested in the rights.