Time, the US magazine giant, is planning to raise $1.4bn (£837m) of debt in order to fund the acquisition of its British publishing arm, IPC Media.
It is part of Time's attempt to maintain ownership of its empire in the restructure caused by the spin-off from its Time-Warner parent. Previously, it was expected that Time would have to abandon the UK business.
IPC Media owns a large portfolio of magazines, including popular women's titles such as InStyle, Marie Claire, Woman's Own and Woman's Weekly and leading TV weeklies.
It also publishes Country Life, Horse & Hound, New Musical Express and many sporting titles.
Two weeks ago, IPC Media announced the closure of Nuts, the 10-year-old weekly that attracted criticism for its sexist portrayal of women.
An IPC spokesman said the company was to "exit the young men's lifestyle sector."
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