Former Molinare director Steve Milne is poised to make dramatic return to the Soho post-production house.
Milne, who left Molinare towards the end of 2010, is spearheading a consortium to buy the facility from its Indian backers.
The sale is expected to conclude next week.
Milne, together with Mark Foligno, bought Molinare from the TV Corporation in 2003.
Five years later India-based Century Communications bought a majority shareholding in the facility, with Milne and Foligno retaining a minority share in the business.
Molinare was re-launched last year after a £7m refit.
There has been mounting industry speculation about the future of the business, with Century ramping up efforts to exit the business in the past few weeks.
Molinare’s most recent financial statement showed it made a loss of £1.5m for the year ending June 2011.
Turnover increased slightly from £15.1m to £15.4m, but the company’s net debt increased from £9.9m in 2010 to £34.2m in 2011.
Last month, Broadcast revealed that Molinare’s chief operating officer Scott Holmgren had quit the post production company.