JPI Media has told staff it has not opened a “formal sales process” for any of its titles after a report claimed the group could be looking to auction some of them off, including daily the i newspaper.

In an email to staff, seen by Press Gazette, JPI Media chief executive David King said management was “developing business plans for the group” and confirmed it was working with advisers as part of the process.

King added that “nothing had been decided” about potential title sales, but did not go out of his way to rule it out.