WH Smith's renewed distribution contract with Frontline has cleared the way for the sale of its magazine and newspaper distribution business. The contract with Frontline runs for three years and is worth about £12m a year in profits to WH Smith. In the wake of the deal, the retailer has instructed its bankers to prepare a memorandum of sale, which will be forwarded to interested parties in just over a month. The distribution business has been valued at between £200m and £240m, although it is understood that WH Smith hopes to sell for around £300m. Frontline, which represents several large publishers, including Emap, Haymarket and BBC Magazines, renewed the contract with WH Smith last week. {{CTN }}