The chief executive of Trinity Mirror has said his company plays an "important role" in covering local news in Wales.
Trinity Mirror publishes the Western Mail, Daily Post and Wales Online.
Mr Fox told BBC Radio 4's Today programme the company was focussing on its growing online audience.
He said: "Our digital audiences in the regions are bigger than they've ever been.
"And I think that's because there are less and less journalists covering local councils, and local schools, and local police forces.
"And so, unlike national and international news that is being widely covered, there's a really important role for us in the regions."
When asked about the company's decision to close four local papers in the English regions last October, Mr Fox did not rule out further closures.
He said: "Yes we did [close them], and we will close titles - largely free titles - and it may be that more and more of our news is available on mobile sites and websites."