News Corp could be looking to sell some of its regional titles as talks between the company and potential buyers has begun.
The talks were the result of several different parties showing interest in some of the company’s mastheads.
An email explaining the nature of the conversations was sent out to staff by News Corp executive chairman Michael Miller.
According to the Sydney Morning Herald, Miller told staff: “While previously we have not considered in-bound approaches, since media reform changes late last year and subsequent renewed interest in some of our regional and community mastheads, we are now obliged to understand the options in more detail.”
“In particular we want to weigh up the long-term impact to the News Corp portfolio, values proposed, and the impact to the communities we have invested in,” he added.
News Corp’s biggest regional titles in Australia include Brisbane’s The Quest, the Geelong Advertiser, Melbourne’s Leader Newspapers, Community Newspaper Group, Messenger, the Gold Coast Bulletin and News Local in Sydney.
News Corp recently ended its relationship with Donna Hay, announcing earlier this month the licence agreement between the two businesses will cease in July.