The New York Times Company is in serious talks with Advance Publications – the parent of Condé Nast – over the sale of the former’s magazine unit. An announcement is expected in the next day or so.

NYTC’s magazines arm comprises four titles – Golf Digest (with a monthly circulation of 1.5 million), Golf Digest Woman, Golf World and Golf Shop Operations.

The asking price for the quartet is known to be around $400m, though neither party has commented on the prospective sale.

News source: New York Times