The BBC, and London-listed ITV said they hoped to launch the service in the second half of 2019.
The BBC and ITV, Britain's biggest television broadcasters, on Wednesday announced plans for a streaming service BritBox, faced with growing competition for viewers from online giants such as Netflix.
"The BBC and ITV are in the concluding phase of talks to establish a strategic partnership to bring an exciting new streaming service to UK audiences," a statement said, adding that it would feature new and old programmes at a "competitive" subscription fee.
"The BBC and ITV anticipate that other partners will be added to BritBox and both will speak to regulators and the wider industry about their proposals," the statement said.
The BBC, Britain's mainly state-funded broadcaster, and London-listed ITV said they hoped to launch the service in the second half of 2019.
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