DMGT said it was considering selling its Northcliffe regional newspaper business last week. The business, which comprises more than 100 titles, could attract a price tag of between £1.2bn and £1.5bn.
However, Hollick could face tough competition from former Daily Mirror editor David Montgomery. Montgomery has been looking to get back into the newspaper business for some time.
He has been linked to bids for the Telegraph Group and, in October, he snapped up the German newspaper group Berliner Verlag for an estimated £100m. Montgomery is said to be putting together a bid with venture capitalist 3i Group and Anglo-American investment fund Veronis Suhler Stevenson. He previously worked with the same partners when bidding for the Telegraph Group.
As well as a bid for the Telegraph Group, Montgomery has made unsuccessful bids for several other media operations, including Scottish Media Group's newspaper business and Express Newspapers.
Hollick ran Express Newspapers, then part of United News & Media, before selling it to Richard Desmond. Prior to that, Hollick sold off United's regional newspaper operation, UPN Holdings, in 1998 to a consortium led by buyout specialist Candover for £360m.
UPN became Regional Independent Media, which included The Yorkshire Post, was again sold on in 2001 to Johnson Press for £550m in 2001.
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