Daily Mail owner eyes The i newspaper as struggling Johnston Press looks to offload assets

The company behind the Daily Mail is considering a bid for the 'i' newspaper a month after owner Johnston Press said it would put itself up for sale.

The Daily Mail and General Trust is in the early stages of planning a bid due in a few weeks, Sky News reported.

The newspaper, which is housed in the same building as the Daily Mail, was founded in 2012, selling for 20p.

Johnston bought the title from ESI Media, the publisher of the Evening Standard and Independent titles, in 2016 for £24m.

But the group, which also publishes The Scotsman, the Yorkshire Post and 200 other regional titles, put itself up for sale last month, citing a £220m debt which must be paid off by June next year.

“In order to assess all strategic options to maximise value to its stakeholders, the board of Johnston Press announces today that it has decided to seek offers for the company.

“There can be no certainty that any offer will be made for Johnston Press, nor that any transaction will be executed, nor as to terms of any such offer or transaction,” it told investors.

The i newspaper grew in the first half of the financial year, with circulation up 17 per cent, and ad revenues improving by 20 per cent.

The potential deal would add the i to DMGT's portfolio which includes the Metro, the Mail Online, the Daily Mail, and the Mail on Sunday.