The company, which announced earlier this year that it was seeking to offload parts of its local newspaper portfolio, says it is in “late stage discussions” over the disposal of certain titles.
Both weeklies were listed as “core” assets in a list of Johnston Press titles drawn up in January.
Iliffe Media, which owned the Cambridge News until 2012 and still owns the printing plant on which the paper is printed, recently marked a return to local newspaper publishing with the launch of the weekly Cambridge Independent.
Speculation about the potential deal to buy the Suffolk titles first emerged in yesterday’s edition of the Sunday Times.
JP said in a statement: “The Board of Johnston Press plc notes the recent media speculation and confirms it is in late stage discussions with Iliffe Media surrounding the potential disposal of certain titles.
“The Company has previously announced that as part of its portfolio review, a number of brands had been identified that were not part of its long-term future and a process has been initiated to explore the potential sale of these assets to identified parties.
“This disposal process is ongoing and a further announcement will be made when appropriate.
“Shareholders are advised that there can be no certainty that the disposal process will lead to any definitive agreements concerning any possible disposals or as to the timing or terms of any such agreements.”
JP originally revealed on 19 January that it was exploring possible asset sales to help fund investment and pay down net debt.
According to a trading update published at the time, titles which could be sold off included those that were outside of selected markets, those that did not match the company’s “audience focus,” and those that did not offer the desired levels of digital growth.
The only deal so far concluded saw the sale of three Isle of Man titles to Tindle Newspapers in July for £4.25m.