UPDATE 1-Daily Sport publisher in administration

* Appoints administrators to sell assets

* Would welcome early interest from buyers

(Adds details, quote)

LONDON, April 5 (Reuters) - The publisher of the Daily Sport and Sunday Sport tabloid newspapers, Sport Media Group SPMG.L, said it was looking for a buyer on Tuesday after it entered administration and ceased trading.

The group, which has struggled to pay back debt as advertising and circulation revenue fell, said it had appointed administrators from BDO LLP who would continue to seek a buyer for the assets of the company, including the newspapers.

It also has investments in a digital content provider, Netcollex, and a telecoms provider, Telecom 2, which continue to trade as normal.

"The companies have been exploring restructuring and sale options and regrettably the cash flow problems being experienced as a result of historic trading difficulties, coupled with limited interest from third party investors or an acquirer for the businesses, have resulted in the companies ceasing to trade," Dermot Power at BDO said.

"The joint administrators are taking all necessary steps to maximise recoveries for the benefit of creditors and would welcome early contact with any interested parties." (Reporting by Kate Holton)