Daily Mail & General Trust Plc
Martin Morgan told an investor conference that Daily Mail's balance sheet was in a strong position, although the market value of financial information company Euromoney has increased fivefold since March 2009.
I'm not saying we're going to buy them out, but DMGT is getting to a position where that becomes more of a possibility, Morgan told the Morgan Stanley technology, media and telecommunications conference in the Spanish city of Barcelona.
Short to medium term, we're quite comfortable to back the existing management team, he said.
DMGT, which publishes Britain's best-selling mid-market tabloid The Daily Mail, owns 66 percent of financial information publisher Euromoney.
DMGT, which is due to publish full-year results next Wednesday, said in September it expected earnings to be at the lower end of forecasts after weak advertising hit its consumer business.
Asked whether that remained the expectation, Morgan said he could not comment but mentioned that advertising had improved in September and that Euromoney had performed strongly.
I leave you to draw your own conclusions, he said.
Morgan also said he expects the Mail on Sunday's circulation to stabilise at about 2 million, having picked up an extra 100,000 from the closure of Rupert Murdoch's scandal-hit News of the World Sunday tabloid.
He said he would expect the Daily Mail to pick up some circulation if the News of the World's daily sister paper, The Sun, were to close, although he did not expect that to happen.
Morgan said: I was a bit surprised by James Murdoch's comment. I wonder if he regrets it.
(Reporting by Georgina Prodhan, editing by Gerald E. McCormick)