Emap France, which accounts for about a quarter of its parent company’s profits, is expected to be sold by September.
The company had been trading in line with financial expectations, according to its statement today, despite suffering a 23 per cent fall in profits in the six months to September last year reportedly due to competition from new TV listings titles.
Citigroup and BNP Paribas are acting as financial advisers to the group on the sale.
Tom Moloney, group chief executive at Emap, said: "Emap has generated significant value by growing Emap France into a leading consumer magazine publisher with a strong position in its market, an attractive portfolio of established titles and a record of successful launches.
"We have positioned the business for growth and are now starting a process aimed at realising value."