The Daily Mail and General Trust has ruled out buying or launching any more local newspapers, but says it is interested in any approaches for its own regional newspaper division, Northcliffe.

DMGT chief executive Martin Morgan told reporters this morning: "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."

Morgan also said today that DMGT had yet to decide "one way or the other" whether to get involved in the new local TV initiative proposed by culture secretary Jeremy Hunt.

"We are certainly studying the opportunity," he said. "How exactly this operation could be run profitably remains to be proved."

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