Grupo Televisa is holding discussions about a possible merger of assets with American broadcaster Univision, according to a report.

On Wednesday, financial news outlet Bloomberg said the two companies had held preliminary talks about combining certain assets, which could bring Univision under the control of one of Mexico’s biggest broadcast and general entertainment companies.

Grupo Televisa already supplies a large amount of television programs to Univision, a broadcaster that has exchanged hands several times during its existence. Grupo Televisa purchased a 5 percent stake in Univision for about $1.2 billion in 2010.

A coupling of Grupo Televisa and Univision would be scrutinized by the Federal Communications Commission (FCC), a broadcast regulator that has a shaky history of approving tie-ups between domestic and foreign media companies.

It was not clear from Bloomberg’s article which assets were being considered as part of the merger. The financial news outlet warned the discussions were in their early stages and talks could fall through.