Graham, founder of The Voice UK producer Wall to Wall, is in discussions with Jackson about creating a production company, according to the Guardian.
The talks with David Liddiment, Steve Morrison and Jules Burns, who founded All3 in 2003, concern creation of a TV, media and entertainment investment venture.
The Guardian reported Graham’s plans as being at “exploratory” and “early” stages, and may not lead to establishment of companies.
Graham left Warner Bros. Television Production UK-owned Wall to Wall in 2014, and was replaced by Leanne Klein.
During his time at the helm of the prodco the firm produced the British version of The Voice and created factual entertainment format Who Do You Think You Are?.
Jackson, meanwhile, is a former BBC One and BBC Two controller and CEO of Channel 4. He is now based in the US, and was most recently in the press after BBC director general Tony Hall approach him about a senior role at the UK pubcaster.
The All3 founders left the UK-based production giant they founded after selling it to Discovery Communications and Liberty Global for £550 million (US$794.6 million).
All3 counts shows such as Gogglebox, Skins, Midsomer Murders and The Only Way is Essex in its ranks.
Liddiment last year joined the board of FremantleMedia, which had come close to buying All3 before Discovery and Liberty clinched the deal. He became a non-executive director of FremantleMedia’s UK arm.