JPMorgan Chase & Co. is advising Ascential on the sale of the division, known as WGSN, and in the last week invited potential investors to indicate their interest, the people said. The sale process will start soon after Easter, they added.

Private equity firms including Providence Equity and Carlyle are also evaluating an offer for WGSN, two of the people said.

Apax, Ascential, BC Partners, Carlyle, JPMorgan and Providence declined to comment.

Ascential Chief executive Duncan Painter in January laid out plans to sell WGSN, which provides data that helps companies understand consumer and lifestyle trends, in a strategic overhaul to boost shareholder returns.

He also said Ascential would list its digital commerce business in the United States, while keeping its events unit in London.

Analysts at HSBC have valued Ascential at 2.2 billion pounds ($2.74 billion) if the businesses are separated as planned, compared with a current market value of about 1 billion pounds.

A sale of WGSN would come at a time of increased activity in the wider media market. UK events organiser Hyve Group said last month it had agreed to a 481 million pound offer from Providence after rejecting two previous ones. Informa also announced it had bought smaller rival Tarsus for $940 million.

A report in the Financial Times in January suggested WGSN could be valued at 16 times expected 2023 earnings before interest, tax, depreciation and amortisation (EBITDA) or 800 million pounds including debt, in part driven by its high margins and steady subscription-based earnings.

The price buyouts will be willing to pay depends on its growth potential in adjacent markets, whether the data is viewed as "must have", and the outlook for the consumer sector, one of the people said.

Apax bought a controlling stake in Ascential in 2008 when it was still known as EMAP, before listing the business in 2016 and selling its remaining stake the following year.

BC Partners has experience in owning information assets including the financial media and data firm Acuris, which it sold to Irish software firm ION Investment Group in 2019.

Ascential generated 121.1 million pounds in adjusted EBITDA last year, up 36% from a year earlier. Revenue rose to 524.4 million pounds from 349.3 million pounds.

($1 = 0.8021 pounds)

(Reporting by Amy-Jo Crowley; Editing by Kirsten Donovan)

By Amy-Jo Crowley