The World: Amsterdam - Telegraaf Media Group to sell off magazines

Telegraaf Media Group is to sell most of its magazine interests in the Netherlands, Sweden and Ukraine as part of a wider programme to cut costs and improve its profits.

The Dutch sale will include all of the group's magazines, apart from Prive, Vrouw and Autovisie. In Sweden and Ukraine, the group is withdrawing its interests completely.

Ad Swartjes, TMG's chief executive, said: "The scale of the magazine segment has proven to be too limited and acquisitions have not been realised, so it is better to hive off altogether."

In August, the group announced that 425 jobs would be cut from its Dutch offices.