Johnston Press has confirmed it is in talks to sell around half of its regional newspaper titles in Ireland as it seeks to pay down its £306m debt.

The publisher wants to sell 14 of its titles in the Republic which include the Limerick Leader, the Donegal Democrat, the Leinster Leader and the Kilkenny People.

In a statement to the London Stock Exchange, JP said it was holding discussions about the “possible sale” of the titles for €8.5m cash, adding that there was “no certainty” that agreement would be reached.

The statement did not name the possible buyer, however according to a report in the Irish Times it is understood to be the advertising agency Mediaforce.