Newsquest’s American owners, Gannett, has said there are no plans to sell the regional newspaper company.

It had been reported in the Sunday Express that Gannett was set to review its UK subsidiary, and speculated that the move could have led to it being sold for up to £1.5bn.

But in a company statement, Gannett has said there is “no truth” to the report.

It said: “Newsquest is a valuable part of the Gannett company.”

Newsquest publishes more than 300 local newspapers around the UK.

Its 18 daily titles include the Southern Daily Echo, South Wales Argus, Lancashire Telegraph, Bolton News, The Argus in Brighton at The Press at York.