Free dailies publisher Metro International announced on Monday a failed bid by a potential buyer Editor & Publisher reported. The publisher terminated talks with the anonymous interested party after they were "unable to present a fully financed offer."

Following the failed bid, Metro International will seek financing by issuing debts and warrants. Metro saw a first quarter loss of €15.3 million, with revenue dropping 24 percent. The publisher was also forced to shut down its titles in Spain due to financial pressure.