Archant, owner of Mustard TV, is planning to sell to the That's TV Group, which already runs channels in 10 different regions.
If the sale goes through, it is understood current staff will not be needed to operate the Norwich station.
An Archant spokeswoman said: "We have consistently said the success of local TV will come from consolidation."
Mustard TV has broadcast from Norwich for the past three years and was set up as part of a UK-wide government scheme.
Its presenters include former Norwich City player Darren Eadie and ex-Anglia TV presenter Helen McDermott.
As part of the deal, Archant will take a stake in the That's TV Group.
In a letter to Mustard TV staff, seen by the BBC, Archant chief executive Jeff Henry said the sale was anticipated to be completed in September.
"We expect that That's TV will broadcast from Prospect House for a year after completion of the share sale, but that, operationally, the Norwich station will work closely with its new sister station in Cambridge," it said.
Mr Henry said Mustard TV had failed to turn a profit since its launch.
"I have consistently said that the success of local television will come from consolidation which can bring the right mix of shared investment and skills needed to make this financially viable; we simply can't afford this on our own," he said.
An Archant spokeswoman said: "Archant can confirm it has started a consultation period with the affected members of staff."

Mirfin, 32, helped the Iron to the League One play-offs and played in their semi-final loss to Millwall.
"We were in a queue to speak to David. He is an outstanding centre-back," Stags boss Steve Evans said.
Hunt, 26, left Chester after two years with the National League club, having played 39 league games last term.
Like Mansfield's other eight summer signings to date, the lengths of their contracts have not been disclosed.
Find all the latest football transfers on our dedicated page.
The owners of Norfolk's local TV station are proposing its sale, which could lead to potential job losses.
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Mansfield have signed defenders David Mirfin and Johnny Hunt on free transfers after their departures from Scunthorpe and Chester respectively.