According to The Hollywood Reporter, Sony Corp. and Toshiba Corp. are working on an agreement that could come as early as this month to jointly develop a new unified standard for next-generation DVDs, The Nihon Keizai Shimbun reported in its Thursday online edition.

The report said Sony and Toshiba stepped up closed-door negotiations around February to find a resolution to the standoff between their competing products. As the leaders of the two camps supporting rival standards, Sony and Toshiba have waged a three-year battle that involves nearly 200 companies worldwide. After reaching a basic agreement that a unified standard would be desirable, they are now looking to develop a hybrid standard that takes advantage of each standard's strengths, the Nikkei said.