Media group Daily Mail & General Trust cancelled plans to sell UK regional newspaper group Northcliffe today.
DMGT put Northcliffe up for sale at the end of November, sparking interest from private equity firms and rival news groups such as Newsquest owner Gannett and Yorkshire Post publisher Johnston Press.
The business is thought to be worth more than £1.3bn (€1.9bn), but the company said the three offers it received for Northcliffe, as well as other proposals, “did not fully reflect the long-term value of the business”.
“Consequently, the board has decided to retain Northcliffe,” DMGT said in a statement.
Northcliffe titles include the Aberdeen Press & Journal, Western Daily Press and Western Morning News.