Digital First media may sell its newspapers

Digital First Media, the media company that owns The Denver Post and San Jose Mercury News, said Friday it may sell its newspapers to steer more resources to its digital properties amid an industry-wide decline in print advertising sales.

The New York-based company, which was formed after the 2013 merger of Media News Group and the former Journal Register Company, owns 76 daily/Sunday newspapers and 160 weekly publications.

"The news information industry in America is undergoing a period of seismic change, defined by the need to consolidate to rapidly compete in a digital world," said Digital First CEO John Paton, in a statement.

In its review of "strategic alternatives," Digital First may sell the company as a whole or just one or more regional clusters, it said. The company also may just stick to "continued execution of its business plan."

"The company cautions that there are no assurances that the process will result in a transaction(s) or on the terms or timing of such a transaction(s), if undertaken," it said. "Further, the board has not set a definitive schedule to complete its review process."

In April, the company ended an initiative to centralize the production of national and digital news for its newspapers.