Its managing director Jeewaka Edirisinghe and businessman Arjun Aloysius, who is in the limelight over the Central Bank bond issue, have held several rounds of talks in this regard.
A top personality in the government is backing the project and he has already met with Edirisinghe secretly for a discussion, sources said.
Aloysius is due to leave for London at the weekend to consult several foreign businessmen, with the mediation of a UNP minister, before taking a final decision.
However, EAP Group chairman Mano Tittawella told Sri Lanka Mirror that no decision has been taken to start a newspaper.
Previously, the media reported plans by Aloysius to build a newspaper network with senior journalists Thushara Gunaratne and Upul Joseph Fernando, who had resigned from ‘Mawbima.’