During its financial reporting last week OSN said that it had instructed bankers to look at the matter, but at the time did not identify the party.
The company reported a 10% fall in income for the three months to September 30, 2018. It faces the combination of an upsurge in piracy and a change in the general competitive landscape.
OSN was created from the 2009 merger of Orbit and Showtime Networks.
It currently distributes 180 channels.
In 2014 KIPCO rejected a $3.2 billion bid for the company.