Sky News have reported international media buying group Aegis is in “advanced talks” to acquire Mitchell Communication Group.

It reports the figure at £200m (approximately AUD $350 million).

Mitchell Communication Group is the largest independent communications group in Australia, international acquisition would forever change the media landscape. Harold Mitchell, founder and executive chairman, is expected to maintain his current role should the sale go forward.

“It’s also interesting because [Jerry] Buhlmann has only been at the helm of Aegis for four months, so this is a big early statement of intent from him,” wrote Sky News city editor Mark Kleinman.

Domestically, Aegis owns Carat and Vizeum.