Two of the UK’s biggest consumer magazine publishers, Condé Nast Britain and Hearst UK, have said they are to “withdraw” from magazine distributor Comag, which together they jointly own.

The announcement came in a short statement today. Press Gazette was told there was no additional comment from either company.

Hearst UK owns 65 per cent of Comag, with the remaining 35 per cent held by Condé Nast Publications.