DMGT chief executive Martin Morgan was speaking to reporters after a trading update showed the regional publisher’s revenues down 6pc year-on-year.
He said: “As far as local papers are concerned we’ve been quite clear that we are not interested in putting fresh capital into that sector.
“We are open to any worthwhile approaches concerning consolidation if they were to occur.”
The comments are the latest sign that DMGT may be prepared to offload the regional media group which includes 115 newspaper titles.
In an interview last September, Mr Morgan said: “We can see that there could be benefits from consolidation … [however] we don’t see ourselves putting additional capital in for us to be a consolidator.”
Today’s interim management statement for the three months to 2 January, the first quarter of its financial year, showed Northcliffe’s revenues down down 6pc year-on-year to £59m while headcount fell by 8pc in the quarter.
For A&N Media as a whole, the division which includes national and regional newspapers, headcount was down by 332, with most of the reduction accounted for by Northcliffe Media.
Its results from the same period last year showed profits at the publisher had increased despite a fall in revenues of 15pc because costs fell by 18pc.
And its 6pc fall in revenues is consistent with the performance of the company in its trading statement on the 11 months to the end of August.
The latest statement shows advertising revenues were 6pc down on the same period last year and recruitment was the worst hit – with recruitment revenues 26pc lower than the same period last year.
It said public notices were down 13pc but property revenues were up 1.5pc.
The statement says digital revenues were marginally lower, with a 21pc decline in recruitment revenues offset by strong growth in property, motors and services revenues.
And it adds visitor numbers to the ‘Thisis’ websites grew by 28pc in December, while a further 83 Local People websites have been launched in the year.
At DMGT as a whole, revenue for the quarter was £497m, up 3pc on last year and up 5pc on an underlying basis.
Mr Morgan said: “Trading in the first quarter has been in line with our expectations, despite our consumer businesses being hampered by the poor weather in December.
“We remain cautious about the medium term outlook, given the external economic environment.”