New York Times Co. said that it received formal bid valuing subsidiary Boston Globe at more than $100 million.

Wall Street Journal released report citing that Times Co. has been aiming to get bid from its owner, News Corp., which is also anticipated to be hindered by regulatory policies that prevent a newspaper or a television station from being acquired by companies in the same market.

The report added that the Times Co. has been in negotiation with suitable buyers including private equity firm Boston Post Partners managing director Heberden Ryan and Rick Daniels, former president of Boston Globe.

Neither News Corp. nor New York Times Co. responded to the Wallstreet report.