National news agency Australian Associated Press has been thrown a potential lifeline after shareholders planned to close the business.
Multiple parties have shown an interest in buying the entire AAP operation which includes the newswire with a staff of 180.
Hundreds of other workers are spread across divisions including editorial production service Pagemasters, press release business Medianet and media analysis agency Mediaverse.
Several parties have shown an interest in acquiring the business, CEO Bruce Davidson told employees on Thursday.
"I must stress that no decision can be made on the viability of these approaches until meaningful talks take place.
"We all should be cautious: nothing may come of these discussions."
Confidentiality commitments mean the identity of the potential buyers remains under wraps.
Mr Davidson said the initial consultation process is expected to take a fortnight.
Editorial staff had been given finishing dates of 27 March and 26 June and assurances of full redundancy entitlements. Those processes are on hold as the potential purchase undergoes commercial scrutiny.
AAP is owned by Nine, News Corp Australia, The West Australian and Australian Community Media.
AAP Chairman Campbell Reid, also a News Corp executive, on 3 March cited the financial impact of the increasing availability of free online content as the key reason for the planned closure. Other sections of the business were to continue.
News of the closure prompted widespread support for AAP which for more than 85 years has reported on general news, courts, politics, finance, entertainment, travel, racing and sport and sport results, while also providing images and video.
"These latest approaches (to acquire the business) have occurred amid the concern and outpouring of goodwill around AAP's role in Australian media," Mr Davidson said.
"It's heartening to see the value of AAP is being more highly recognised."
