US media group Gannett today said it had no plans to sell Newsquest, its UK newspaper division.
The Sunday Express yesterday claimed that the media giant is carrying out a company review with the Credit Suisse investment bank, and could sell Newsquest for up to £1.5bn.
A statement released today by Gannett said: "There is no truth in the report. Newsquest is a valuable part of the Gannett company."
Newsquest publishes more than 300 daily and weekly newspapers in the UK including the Herald in Scotland, the Lancashire Telegraph, the Evening Times in Glasgow and the Argus in Brighton.
The story in the Sunday Express claimed that a possible sale would be seen as a reaction to an increasingly tough market in the UK as newspapers struggle with falling circulation and classified revenues under increasing pressure from online competitors.
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