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LONDON (Brand Republic) - Media group Emap will today receive bids from companies chasing its flagging US consumer magazine group Emap USA.

Bidders are thought to include National Enquirer publisher American Media; Hachette Filipacchi, the US arm of French publisher Lagardere; and US publisher of media and teen titles Primedia, which will bid in partnership with US private equity firm Kohlberg Kravis Roberts.

American Media is thought to be the most aggressive bidder. Its CEO David Pecker is said to be keen to expand into the consumer magazine business through acquisitions, after losing out to Time Inc in the auction for Times Mirror Magazines last year.

Primedia is understood to only want a portion of the business and has teamed up with KKR so that it can cherry-pick the titles that will complement its existing portfolio of titles.

If Emap goes ahead with the disposal, it will end a short and disappointing foray into the US magazine publishing market. It only acquired the business in December 1998 for what was widely viewed as a vastly inflated price of £720m. The deal was the first major acquisition overseen by the then recently appointed Emap CEO Kevin Hand.

Emap is understood to want £500m for the business. However, industry observers have valued the company at closer to £420m. The large amount of cash Emap will have to write off as a result of the sale will further tarnish Hand’s reputation among shareholders.

Emap USA publishes a number of automotive titles, which have been badly hit by the diminishing amount of advertising revenue brought on by the slowdown in the US economy.

Its titles are also suffering from declining circulation, ageing readership and high staff turnover. The company is saddled with around £650m in debt and it is widely believed that its former owners overstated the company’s advertising figures.