The second new bidder to enter the race is KKR, the US venture capitalist firm, according to a report in The Times.
Second-round bids for Hollinger International, which owns the Daily Telegraph, are due to be submitted by mid-May.
Saban, the Hollywood-based billionaire behind the 'Mighty Morphin' Power Rangers', and Axel Springer, publisher of German tabloid Bild, are reported to have tabled an all-paper offer supported by the venture capital firm Hellman & Friedman.
However they face competition from buy-out firm Kohlberg Kravis Roberts, which has long-standing ties to Lord Black of Crossharbour, as well as existing bidders in the race including the Daily Mail & General Trust and the Barclay brothers.
USA Today publisher Gannett pulled out last week after it said the price being asked for Hollinger, which also owns the Chicago Sun-Times, was too high. Northern & Shell, the publishing firm controlled by Richard Desmond, was ejected from the race when it was told its offer was too low.
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