Dutch company Telegraaf Media Groep reported that it will sell significant parts of its magazine titles, mainly those that "contribute insufficiently" to its financial productivity, press-business.de reported.

Publications that have been put up for sale include Residance, FHM and CosmoGirl!. However, titles that are affiliated with daily newspaper De Telegraff will not be put on the market.

"Autonomous growth remained limited so far despite many initiatives," said TMG CEO Ad Swartjes, according to press-business.de. "Therefore TMG now opts for the discontinuation of this part of the portfolio."

The group's Ukrainian magazines and their associated Web sites have been put up for sale. Meanwhile, Swedish magazines and sites focusing on interior and design, boating, sailing and golf as well as titles targeting female audiences have already been shown to possible purchasers.

TMG said that it was holding talks with publishing firms about potential takeovers and expects to receive nearly €40 million from transactions, press-business.de reported.