The show has been an annual fixture in the city each November for more than 160 years.
But the Canterbury Agricultural & Pastoral Association last month cancelled the three-day event due to "financial constraints".
Event Hire then stepped up last week with a proposal to run the show this year.
Event Hire has proposed a slimmed-down show with fewer stalls and visitors.
It would move the three-day event forward and run it from Thursday to Saturday.
Visitor numbers would also be limited to 50,000 to help make planning and running the show easier.
Event Hire wants to reduce the entry fee to make it more affordable for families and reduce the cost for stallholders.
Previous shows have attracted about 600 trade exhibitors and more than 100,000 people.
Event Hire co-owner Nick Anderson said it has met with the Canterbury A&P Association board several times.
The two parties are now getting into the "nitty-gritty" detail of running the show, he said.
Anderson is hoping the board will make a decision on Event Hire's proposal by the end of this week so his team can start planning for the big event.
- By Geoff Sloan, made with the support of NZ On Air
