Former Independent News and Media director Mr David Palmer is preparing a bid for Trinity Mirror's Irish newspaper titles, according to today's London Times.
The report claims Mr Palmer has teamed up with HgCapital, a private equity firm, to make a bid of up to £40 million sterling for the titles, which include the Belfast Newsletterand the Derry Journal.
Trinity Mirror put its stable of Irish titles - which also includes the Belfast Newsand the Donegal Democrat- up for sale at the end of July as part of a cost-cutting drive.
The Timesreported Mr Pamer's consortium was understood to have been holding talks with Trinity Mirror and UBS, its adviser, as recently as last week. HgCapital declined yesterday to comment on the talks.
Other potential suitors for the newspapers include Scottish Radio Holdings; Thomas Crosbie Holdings, owner of the Irish Examiner; and Mr Palmer's old employer, Independent News & Media.
Mr Palmer (62) left the board of Independent News & Media in November after eight years at the company. He is also former group chief executive of the Financial Times.