Four US TV networks are reportedly being asked to pay $70m (�50m) to screen the new Harry Potter movie.

The New York Post says the price is more than double the previous record set by Titanic.

Warner Brothers, who are making the Harry Potter film in the UK, are only allowing the networks to see a 15-minute extended trailer of Harry Potter and the Philospher's Stone.

A spokesman for Warner Bros is quoted as saying no figure has been set, but confirmed that meetings had taken place with bosses from NBC, ABC, CBS and Fox.

The record for TV rights to a film was set by Titanic, which cost NBC $30m (�21m).

Contract

The Harry Potter film, due out on 16 November, stars 11-year-old Daniel Radcliffe as the young wizard.

The cast includes Dame Maggie Smith, John Hurt, Robbie Coltrane and Rupert Grint and Emma Watson as Harry's friends Ron Weasley and Hermione Granger.

Even if it is a cinema flop, the TV contract would stand, industry sources told the New York Post.

Harry Potter director Chris Columbus has promised fans the film will be as close to the book as possible.

He told USA Today: "To make this film you have to be a fan. These books are incredibly imaginative, classic stories. Why would you need to toy with that?"