Britain's Guardian Media Group (GMG) is in exploratory talks about consolidation of its regional titles with other newspaper groups, it said today, but stressed it is not about to sell its flagship Manchester Evening News.
The Daily Telegraph reported earlier that the group had held talks to sell GMG Regional Media, including the Manchester Evening News, to Trinity Mirror for as little as £40 million.
Consolidation among Britain's regional newspapers, whose revenues have been devastated by the recession and the shift to online advertising, has become more likely since the government said in a June report it would take a more flexible attitude to regional media competition concerns.
GMG said in a statement: "Since the publication of the Digital Britain report we have been considering the potential for further consolidation within the regional press sector.
"There have been some exploratory talks regarding our regional media business. However these are at a very early stage and it is not clear whether they will progress or what the outcome is likely to be."
Trinity Mirror, which prints GMG's regional titles, declined to comment.
GMG is owned by a trust whose main purpose is to protect the financial and editorial independence of its flagship daily Guardian newspaper, but not the other titles. The company's origins are in Manchester.
Circulation figures for the Manchester Evening News have not been published since it reduced the number of free copies it hands out earlier this year. Its average circulation between April and June varied between 67,000 and 165,000.
Reuters