The former Conservative prime minister is said to have been sounded out by his former chancellor Nadhim Zahawi, who has approached a number of wealthy backers about assembling a potential bid for the Telegraph newspapers and the Spectator magazine.
Zahawi has held preliminary, informal talks and raised the idea with investors of Johnson becoming the Telegraph's global editor-in-chief - though there is no firm agreement in place and there are no formal talks, according to Sky News.
Johnson writes a column for the Daily Mail, but he has longstanding links with the Telegraph, where he began his career as its star Brussels correspondent writing exaggerated stories about EU regulations before returning to the UK to be a political columnist and entering politics.
Zahawi stepped down as an MP in July after he decided not to stand again in his Stratford-on-Avon constituency.
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