Sanoma sells educational books business in Hungary

HELSINKI Tue Oct 8, 2013 9:14am EDT

HELSINKI (Reuters) - Finnish publisher Sanoma said on Tuesday that it sold its educational publishing business in Hungary, and plans to book a one-off capital loss of 23 million euros ($31 million) in the third quarter.

Sanoma said it sold NTK Educational Holding Zrt to a consortium of members of its management team.

Sanoma has been considering a broad restructuring plan, including cost cuts and asset sales, following a drop in advertising sales.

(Reporting by Helsinki Newsroom; Editing by Louise Heavens)