Daily Mail owner plotting bid to buy i newspaper from struggling Johnston Press
The owner of the Daily Mail is reportedly readying a bid to buy the i newspaper from its financially stricken publisher Johnston Press.
DMGT is believed to be preparing a bid for the i newspaper
Daily Mail and General Trust (DMGT) is in the early stages of drawing up an offer, according to Sky News, and is expected to lodge its bid "in the coming weeks".
Its interest follows Johnston Press putting itself up for sale last month after struggling to refinance £220m in debt.
The i was launched in 2012 as a concise sister title to The Independent and is housed in the same building as The Daily Mail.
It was bought by Johnston Press for £24m in 2016 when previous owner ESI Media closed The Independent's print edition.
Since then, the i has established itself as the jewel in the crown of Johnston Press's publishing portfolio, which includes The Scotsman and The Yorkshire Post among 200 regional titles.
Sky said a sale of the i could raise as much as £50m-£100m for Johnston Press, which would be used to reduce its pension and bondholder obligations.
Johnston Press has not commented on the speculation but says its sale process is ongoing.