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S4C has revealed it may move its headquarters out of Cardiff.

The Welsh language television channel said it could relocated its head office to either Carmarthen or Gwynedd but it would carry out the second part of a study before deciding.

S4C's HQ has been in Cardiff since the channel launched 31 years ago.

It is hoped the study will be completed by the first half of 2014. The channel stressed it would maintain a "presence" in the capital.

The first phase of the study which began last year asked organisations to suggest relocation ideas for the channel.

The second phase will look at moving the channel's HQ and it will work with two groups, one led by the University of Wales Trinity Saint David in Carmarthen and another led by Gwynedd council.

Ian Jones, the channel's chief executive, said: "Moving forward with step two of our feasibility study shows that we're giving full consideration to how much more S4C can do to ensure that the whole of Wales benefits as much as possible from our existence as a national channel.

"I'm really looking forward to seeing the outcomes of the additional work that will be done now in conjunction with our potential partners in Carmarthen and Gwynedd."

Gwynedd Council welcomed the announcement.

Gwynedd Council leader Dyfed Edwards said: "It is very encouraging that Gwynedd has been identified as one of two possible areas being considered by S4C for their headquarters.

"It would certainly be a tremendous boost to our local economy and the Welsh language if this goes ahead."