Let the breakup begin for Sun-Times Media Group Inc.

Piecemeal sale of the publisher of the city’s No. 2 newspaper is the likely outcome after the struggling company on Monday said it was entertaining selling any or all of its assets, plus joint ventures or partnerships.

Industry analysts say few bidders are likely to want the company’s entire portfolio, which includes the Chicago Sun-Times and a string of weekly and daily papers in the suburbs.

The suburban papers could attract greater interest from potential acquirers, says industry analyst John Morton, president of Morton Research Inc. in Silver Spring, Md.