The magazine publisher behind Total Film is scaling back its US operations after they contributed to a fall from £5.5m profit in 2010 to a £19.3m loss in 2011.
In November it revealed plans to merge its US and UK business a month after axing chief executive Stevie Spring and finance director John Bowman to cut out the top layer of international management.
The division being sold made a pre-tax loss of £3.8m in the year to 30 September 2011, on revenues of £8.5m.
The remaining US business covers the gaming, technology and cycling sectors.
Future chief executive Mark Wood, who took over from Spring, told Media Week there would be no effect on the UK music division and no closures or further sales in the US.
"We’re about to launch TechRadar in the US. We intend to roll out more of our UK publications in the US by repurposing them ... focusing heavily on digital."
The company made 100 redundancies in the UK last year, leaving its staff numbers at approximately 850. The US disposal will involve around 50 staff, leaving 160 at the business.
Future said the buyer, a US publishing and events company called NewBay Media, would pay $2.6m in cash on completion of the deal and $150,000 in cash on 30 September.
NewBay may pay a further $250,000 in cash in the third calendar quarter depending on the business achieving undisclosed operational targets.
Future will use the money for the "continued restructuring of Future US" and reducing its bank debt.
It also intends to sell its New York property after a transitional period in which NewBay integrates the business – consisting of the magazines and websites Guitar World, Revolver and Guitar Aficionado and the licence to operate the Golden Gods Awards show in the US.
Wood said: "The sale represents a big step forward in our strategy to streamline our US business and return it to profitability by 2013.
"The merger of our mainstream US operations and our UK business is on track, and we are making good progress in reducing costs.
"We continue to accelerate our transition to a digital business model and to create a single global product line, selling our entire range of digital content to high-value audiences in all key markets."
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