A note to investors from publishing giant Future portends dark happenings for the company's US arm. The UK-based publisher has found continued operations in the US "significantly more challenging," due to a smaller scale operation and the business model for magazines in the States. In July, Future announced it was moving its Future US into a primarily digital business (i.e. non tree-based magazines), but things have apparently escalated.

"With trading conditions in the U.S. reflecting ongoing weakness and decreasing visibility at newsstand, and an acceleration in the year-on-year growth rate in digital revenues, the Board is now considering a wider range of strategic options in respect of its U.S. operations," the note reads.

Future US's magazine business currently includes all three official console magazines, along with PC Gamer and Best Buy's @Gamer. The question now revolves around whether the "wider range of strategic options" includes the publisher cutting its losses in the magazine space or moving to sell off the division. Future plans to share more details at the end of its fiscal year November 24.

This article was originally published on Joystiq.