Midland newspaper owner Chris Bullivant is to bid for Trinity Mirror's Midland titles.
The Worcestershire-based publisher – who already owns 19, mainly free, newspapers across the region – said he was preparing an offer for the division, which publishes The Birmingham Post, The Birmingham Mail, Sunday Mercury and other local titles.
Mr Bullivant told a meeting at Birmingham's Burlington Hotel that he was in detailed talks with financial backers. He said: "I am bidding for it. I come from Birmingham, I am a Brummie.
"The Bullivants have been in Birmingham since the 1450s – I intend to stay here. We were after the Birmingham Post & Mail 20 years ago. I am going to have another go. I am not anti-trade union, I am working-class. I publish local newspapers and I intend to continue.
"If I am successful, my family company will not sell the shares."
The announcement comes just days before Trinity Mirror releases an information memorandum providing details of the sale of its Midland, London and South-east titles, along with The Racing Post.
Chris Morley, the NUJ president chairing the meeting, said: "We are crying out for successful journalism to be recognised and rewarded with proper investment."
Mr Bullivant said: "I think there will be scores of others interested, but there has to be investment in quality journalism."
He said potential backers for his bid were a combination of banks and venture capitalists allied to his own company, Bullivant Holdings.
Mr Bullivant, who launched the Birmingham Daily News in the 1980s as a free daily, is the first businessman to declare his interest in the titles since Trinity Mirror put them up for sale in December. The meeting, organised by the National Union of Journalists to debate the future of the Midland titles, saw a wide range of prominent guests.
They included former CBI director-general Sir Digby Jones, Institute of Directors regional chairman John James, West Midland MPs including Gisela Stuart and Tom Watson, historian Carl Chinn and media personalities including Central TV newsreader Bob Warman.
Sir Digby revealed he had been approached by wealthy local businessmen interested in the titles.
"I have had a couple of people ring to say if we were to put a bid together, would you chair it? I say 'Yes, I would love to'.
"Investment in quality journalism is the future of these newspapers and I am here to help. If we are going to get this right, it has got to be local people who understand the West Midlands, to buy it."