According to the Sunday Telegraph, Miller has approached private equity groups to help fund a bid for Emap's magazines.
The newspaper said it is the specialist titles, which include Angling Times and What Bike?, that are of interest. This is because they are seen as being more robust in the face of any advertising downturn and because it is more straightforward to develop an internet strategy for niche titles.
Miller climbed the corporate ladder from an editorial background, having begun his career in 1965 as a junior reporter on Emap's Motor Cycle News.
He became group chief executive in 1985 and began a strategy of growing the company through acquisitions of magazines, radio and exhibitions. In 1998 he became non-executive chairman, but in 2001 the board asked him to return to the chief executive role, where he served another two years, standing down in January 2003.
Emap now has wide-ranging media interests from magazines to television and radio brands. It looks set to be broken up after announcing last month that it had appointed Lazard to look at a review of its group structure, following what it described as various unsolicited proposals.
Other names in the frame to buy various Emap assets include Future Publishing, which also focuses on niche magazine titles, United Business Media, and private equity groups Apax and Cinven.
Last month, Miller joined online motorsport content firm Crash Media Group as chairman, to spearhead its expansion.
He is also chairman of the advisory board of Sport Media UK, a board member of Motorsport Development UK and chairman of Channel 4 TV's new business board. Until July 2005, Miller was non-executive chairman of HMV Group.