prnUK-based UBM, more than a month after confirming talks to sell its profitable PR Newswire operation, said discussions are ongoing but no deal is certain.

"There is no certainty that [ongoing discussions] will result in a transaction being agreed," the company said in a trading update Nov. 10.

UBM said in September it was in "highly preliminary discussions with a number of parties" about a sale of PRN, which could fetch as much as $700M. Reports at the time said PR software giant Cision was among potential suitors.

UBM, which is positioning around its core trade show/events business, in July replaced PRN's CEO with the parent company's own chief financial officer.

PRN's revenue topped $300M in 2014 with profit around $70M.