Producer of Channel 4's Peep Show, Objective Productions, is looking at whether to sell the company or accept private equity investment.

According to reports, the company's financial adviser, Ingenious Media, is talking to prospective buyers for a sale of around £40 million. All3Media, Shine and IMG are expected to express an interest. Ingenious is also presenting to private equity groups who may wish to buy a share.

Insiders say Objective chief executive Andrew O'Connor and joint managing director Michael Vine, its principal owners, are "open-minded" about the process.