After rumours of a sale first emerged in May 2019, Archant was acquired by investment group RcCapital in August 2020 and subsequently put up for sale again in January this year, after the group carried out a full company restructure and sold the New European to a consortium including the former New York Times chief and BBC director general Mark Thompson and the ex-Financial Times editor Lionel Barber.

According to a report on Sky News, Archant’s owners have set aside interest from Daily Mirror and Daily Express owner Reach as well as JPI Media owner National World, to enter a period of exclusive negotiations with Gannett-owned Newsquest.

Archant publishes scores of regional titles across Norfolk, Suffolk, Hertfordshire and Cambridgeshire, the South West and London and the South East.

Archant’s coverage of East Anglia would be a welcome addition to Newsquest’s portfolio, which currently has a gap in that region.

Founded in 1845, Archant employs around 1,000 staff. The embattled business was forced to close its main printing site in Norwich in 2019 due to falling advertising revenues and print readerships.

In the year to 31 December 2020 it posted revenues of £55.8m (2019: £78.7m), with digital and advertising revenue down 29% on the previous year to £32.7m (2019: £46m). It reported a £1.3m EBITDA loss and a net debt of £2m.

According to Sky News there was no indication of when a deal may be reached.

Archant and Newsquest declined to comment.