The publisher of The Scotsman and the Yorkshire Post has been looking for a new chief executive following the decision of incumbent Tim Bowdler to step down from the role next May.
The decision to appoint Fry, who has been chief executive of Archant since 2002 and is former chief executive of Misys, is expected to be made this week.
The move comes as Johnston Press battles against an increasingly tough advertising market, particularly in the classified and property sectors.
Bowdler has spent 14 years at the helm of Johnston Press, during which time it has turned from a small family-run business into the second-largest regional publisher in Britain.
Archant, based in Norwich, publishes four daily regional newspapers and around 60 weekly titles, along with a series of free distribution magazines in various English counties.
Johnston Press and Archant were unavailable for comment
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