Two of the largest media companies in the United Kingdom are in talks that could lead to a merger, creating a £3 billion media giant, The Scotsman reported Monday.

The two companies, United Business Media and Informa, are believed to be discussing an all-share merger.

Although the two companies are in very early stages of discussion, if the merger goes through, it is believed that UBM's David Levin could be chief executive, while Peter Rigby, of publisher and conference organiser Informa, would become chairman, according to The Scotsman. UBM is the publisher of Property Week.

“The board is considering the proposal and is in preliminary discussions with UBM,” Informa said in a statement, according to Telegraph.co.uk. “There can be no certainty that any transaction will take place.”