Last month news broke that his publisher, Northern & Shell, had charged Barclays Capital with finding a buyer for its OK! magazine - a rumour the publisher passed off as "pure speculation".

Newspaper reports have now emerged that Desmond has asked Goldman Sachs to find a buyer for the Daily Express and Sunday Express. It has also been suggested that Desmond has had informal talks with Daily Mail and General Trust owner Lord Rothermere with regards to a potential merger of the Daily Mail and the Daily Express.

Both parties have declined to comment at this time - however a source close to Desmond speculated that he was simply re-evaluating his assets.

"It is like when an estate agent puts a leaflet through your door, sometimes you wonder what [your house] is really worth. Desmond is someone who is always looking at the value of his empire," the source said.

A sale of the Express, Star or OK! would appear at odds with Desmond's television ambitions. He bought Channel 5 last year and is currently working to bring reality television show Big Brother to it later this year. The show would rely heavily on celebrity gossip, something Desmond specialises in through his print titles.

The timing of the move could also be considered bizarre considering the company is in the process of investing £100m in new presses.