NEW YORK CITY-EMI Group has sublet 18,044 square feet of its office space at 150 Fifth Ave. to TechMediaNetwork, an online publisher.

EMI Group was taken over by Citigroup earlier this year. The company announced last month that it had “initiated a process to explore and evaluate potential strategic alternatives, including a possible sale, recapitalisation or initial public offering.” Recent reports indicate that Citgroup intends to put the music company up for sale.

The sublease of the Fifth Avenue space was handled by Jones Lang LaSalle on behalf of the tenant. Robert Gallucci, a senior director at Cushman & Wakefield, represented EMI, and declined to comment to GlobeSt.com about the deal.

Andrew Flint and Ryan Masiello, vice presidents at JLL, represented TechMediaNetwork. Flint tells GlobeSt.com that the space, which had been on the market for a while, fit the company’s needs in many ways. “It fit a lot of their needs in terms of price, location, size and the type of space that they were looking for,” Flint says. “The space had been on the market for a while and, given that they’re an online publisher, this area, which caters to creative users was attractive to them.”

Sources tell GlobeSt.com that EMI has other space on the market in the building--floors 2, 3 and 4--a total of about 60,000 square feet. TechMediaNetwork is moving from 470 Park Ave. South, and will double its space with the EMI sublease.