The deal is reportedly worth £1m, with lucrative merchandising projects to follow if negotiations are successful.
The Busted boys, Matt, James and Charlie, have been a huge success in the UK since their first single, 'That's What I Go to School for', entered the charts in 2001.
Since then they have clocked up three number ones and five top threes, while both of their albums, 'Busted' and 'A Present for Everyone', have hit the number two spot.
The boy band is only lacking in US exposure, however. Most successful UK artists struggle to crack the States -- Robbie Williams has notoriously tried and failed on many occasions.
If the MTV deal does come off, Busted could become a household name in the US.
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