Publisher Johnston Press has put itself up for sale after it reviewed its financial situation, which includes a large debt repayment due next year.
The company said in August it was trying to grapple with tough market conditions affecting the performance of its newspapers and websites, as well as pension obligations and the weight of its debt.
It has £220m of borrowing due for repayment in June.
Shares in Johnston Press, which reported a 10% drop in revenue to £93m in the six months to the end of June, have fallen 78% in the last 12 months.
Johnston includes The Scotsman, The Yorkshire Post and "i" among its publications.