PMP Communications, one of Australia's leading print and publishing companies and parent company of consumer publisher Attic Futura, is to dispose of its UK subsidiary. Attic Futura has a portfolio of eight titles including market leader Sugar and its latest launch CD:UK. PMP has negotiated with its European publishing partner, North South Publishing, to take full ownership of the joint venture titles in the UK, Sugar and B magazines, and B magazine in Australia. North South will receive full ownership of PMP's German titles Hit Stars and FHM. The cost to PMP of the transaction is in the region of $50m, deferred over the next two years. CEO of PMP Australia, Bob Muscat, says: "This gives PMP the freedom to pursue a full sale of the UK publishing asset." Managing director Vivien Cotterill says: "We anticipate significant interest from prospective buyers interested in acquiring Attic Futura UK. "Attic Futura is a fantastically sought after company which has led the way in the teenage market place and has an enviable record of hugely successful launches. "Until a sale has been agreed it will be business as usual at Attic Futura." {{CTN }}