Bosses of The Daily Telegraph’s dad or mum firm will instruct bankers inside weeks to launch an public sale of one among Britain's best-known newspaper publishers.

Sky News has learnt that Nick Hugh, the chief govt of Telegraph Media Group (TMG), informed employees on Tuesday that the brand new board of Press Acquisitions was within the means of hiring advisers.

"The new directors of TMG's parent company are currently exploring the possibility of appointing an investment bank," Mr Hugh informed staff.

The improvement will come barely later than initially anticipated, with the likes of Goldman Sachs and JP Morgan vying to promote the Daily and Sunday Telegraph titles, and the weekly present affairs journal, The Spectator.

Sky News revealed this month that the newspapers' former house owners, the Barclay household, had tabled proposals to restructure its debt to Britain's largest excessive avenue lender in a last-ditch try and regain management.

Lloyds Banking Group is owed roughly £1bn by the household, which additionally owns the Yodel supply service and the Very Group on-line purchasing platform.

Carlyle, the personal fairness agency which already holds a portion of debt hooked up to Barclay-backed corporations together with the web purchasing enterprise Very Group, is known to have been concerned within the talks with the household.

Read extra:Who is in the running to buy the Telegraph?

Lloyds took the bombshell choice to put the newspapers' oblique holding firm into receivership earlier this month.

Lloyds executives count on the media belongings to command a price ticket of about £600m, which means it might nonetheless be owed within the area of £400m by the Barclay household even after the proceeds of the Telegraph sale are used to repay a part of the mortgage.

AlixPartners is performing as receiver to a holding firm inside the group, whereas Lloyds is being suggested by Lazard on its choices for the belongings.

The impending sale course of shall be among the many most hotly contested media auctions in Britain for years and is anticipated to attract curiosity from billionaires, Tory donors and different media teams.

Lloyds has eliminated administrators appointed by the Barclay household, together with Aidan Barclay, the chairman of the newspaper group, and put in two restructuring consultants.

Aidan Barclay is the nephew of Sir Frederick Barclay, the octogenarian who together with late brother Sir David engineered the takeover of the Telegraph in 2004.0

TMG declined to remark.