Comics set to sell their production company for millions

The comedians Mel Smith and Griff Rhys-Jones are likely to make £10m each when their television company, TalkBack Productions, is bought by one of the principal broadcasting companies.

Rival media groups Pearson and Carlton are understood to be bidding to buy the independent television production company set up by Smith and Jones.

They are said to be willing to pay up to £80m for the business, which has a track record of making hit comedy series. TalkBack's successes include Smack the Pony, Murder Most Horrid, Knowing Me Knowing You, the sports quiz programme They Think It's All Over, the latest Ali G series and Never Mind The Buzzcocks.

The new BBC2 schedules also contain arts commissions from TalkBack as the production company extends its portfolio.

The company initially produced the two comedians' own long-running series Alas Smith and Jones, but is now a leading supplier to both the BBC and ITV. Although Smith and Rhys-Jones are no longer involved in the day-to-day running of the company, they are understood to retain substantial stakes.

The company is known to have been for sale for some weeks, and is a particularly appealing prospect as its programmes tend to attract a youth market.

Pearson, now run by Richard Eyre, former chief executive of ITV, is known to be interested, as is Carlton, though neither company would comment.