Newspaper publisher Trinity Mirror is to sell off the Racing Post and the rest of its sports division, as well as a number of regional papers.
Price-cutting by rival papers has hurt the Daily Mirror
The group plans to offload its regional titles in the Midlands, London and the South East.
Instead, Trinity Mirror will focus on national and regional newspaper titles in Scotland, the North of England and Wales, as well as UK digital assets.
The move comes amid falling advertising and circulation revenues.
Trinity Mirror said that group circulation revenue fell by 0.5% during the five months to November 2006.
During the same period, total advertising revenues dropped 8.4% year-on-year.
For the regional division, advertising revenues dropped 8.6% year-on-year in the five-month period.
Bucking the trend was the sports division, which saw advertising revenues increase by 3.1% year-on-year.
As well as selling the regional and sporting titles, Trinity Mirror said it would look to boost its use of new technology.
According to the company, the plans will save it £20m by 2008.
Group chief executive Sly Bailey said that the programme of disposals and concentration on new technology would make the firm the one "of the most efficient and modern media groups in Europe".
"The new integrated model will allow Trinity Mirror to develop as a multi-platform media business and capitalise on the enormous strengths we have in our core markets," she added.