The consortium, assembled by the interactive TV advertising specialist Zip Television, could take advantage of the growth in interest in interactive ads and from the home shopping market.
Running a dedicated channel would remove some of the obstacles experienced in running interactive ads on the traditional broadcast channels.
Because the ads remove the viewer from the broadcast stream, there can only be one transmitted in every break and it is always transmitted last.
Currently advertisers also may have to run different formats depending on the digital platform but with a dedicated channel, advertisers could run a standardised interactive execution.
Andrew Howells, a managing partner at Zip Television, refused to comment.
But in a statement the company confirmed that it was developing the consortium: "The consortium represents a group of advertisers who are looking at investing in interactive TV advertising campaigns in order to experiment and develop further insight and learning.
"The primary aim of the consortium is to recruit a number of like-minded TV and interactive TV advertisers who are interested in exploiting the value of interactive TV advertising. One of the areas the consortium is interested in exploring is a move towards one creative execution per campaign regardless of the broadcaster platform and interactive functionality."