Although contracts have yet to be finalised, it is understood that Sony is close to confirming the partnership with Fallon, which handles advertising for Sony in Europe.
The brief will see the agency create a global campaign that aims to drive sales of the TV.
The account also includes digital elements, and it is understood that the advertising agencies all pitched with a specialist digital agency. Dare is Sony Europe's retained digital agency and has partnered Fallon on previous Bravia campaigns.
A win would strengthen Fallon's position on the Sony roster, which it first secured in 2002 when it landed the £70 million pan-European account for Sony Electronics following a shoot-out against Bartle Bogle Hegarty.
Since then, Fallon has produced three Cannes award-winning campaigns for Sony Bravia - "balls", "paint" and "Play-Doh". Despite being initially intended for the European market, the agency's work was subsequently rolled out beyond the continent.
Fallon, Dare and Sony all declined to comment on the appointment.