ITV and the BBC have signed a memorandum of understanding that could see the pair co-locating regional news centres and sharing technical facilities.
ITV said that it estimates that there is the potential for a saving of £1.5 million in 2011 rising incrementally to around £7 million per annum by 2016.
According to ITV, the current cost of its regional news services in England, the Borders and Wales is around £55 million per year, excluding news provision for the Channel 3 licences in Scotland, Ulster and the Channel Islands.
In a joint statement, ITV and the BBC said: “The two organisations have been discussing possible ways in which they could work together in a partnership aimed at securing a long term future for regional news on Britain’s main commercial channel.
“The two sides have stressed that a final agreement would need to maintain the editorial plurality of news services in the English regions and Wales and ensure that the journalistic integrity of both broadcasters is preserved.”
Mark Byford, BBC deputy director-general, said: “The BBC and ITV will now continue our discussions around what would be an innovative and ground breaking proposal.”
John Cresswell, ITV’s chief operating officer, said: “Plurality in regional news is an important part of PSB and we welcome this step in helping to support it.”