A&am#g;s owner and chief executive are in discussions with the media about restructuring their media business to allow them to continue to pay salaries to the people who work in its operations, according to a person familiar with the matter.
The person spoke on condition of anonymity because the discussions are private.
The company has been losing money for years, and CEO Steve Ballmer is on the brink of selling the company to SoftBank, according forbes.
He has said he plans to stay on as chairman.
Ballmer was not immediately available for comment.
Earlier this year, Ballmer told the Wall Street Journal that he had a “very good” chance of buying the company, which employs 1,000 people in Los Angeles, and that he is not looking to sell it.
“I don’t see it being in my immediate future,” Ballmer said.
“I think we’ll have a very good chance of it being bought.
I’ve made that abundantly clear to my team.”
A&#g#s media operations include its sister publication, Time Warner, and its digital news site, CNN.
The company has also announced plans to acquire rival CNBC, which was founded in 1996 by former CNBC executive Roger Cramer.