The company is in consultation with staff, advertisers and union representatives to enact changes that will "ensure future stability and viability in its businesses".

The Midlands businesses are currently running at a loss forecasted to be in excess of £6m for 2010.

However, Trinity claims that, without actions already taken in the past 12 months, this would have been a loss of as much as £10m.

The consultation will review options for all areas of the businesses and include two specific areas for discussion.

The first is the future publishing model of the Birmingham Post and whether it should remain a daily title or change to a weekly publication.

The second is on the afternoon title the Birmingham Mail, where consultation will cover the option of printing the title overnight with a shift to morning distribution.

Georgina Harvey, managing director at Trinity Mirror Regionals, said: "The economic situation facing these businesses is extraordinary in both its severity and impact.

"I feel strongly that everyone involved in these businesses – staff and advertisers – are fully aware of these challenges and that we can have a genuine and open dialogue about all potential options that can help to return these businesses into profit.

"With this goal in mind, we are actively seeking to achieve a timetable of consultation meetings with staff and union representatives. We have difficult choices to make but together we will ensure the future viability and survival of our great Midlands businesses."

Consultations are at an early stage and no decisions have yet been made, she added.