The Japanese version of Amazon is currently listing a July 23rd English language release of K-on! College from North American manga publisher Yen Press.
In April 2011 the K-on! manga relaunched with one series featuring the main cast in college, and a second featuring high school light music club members Azusa, Ui, and Jun. Both ended in mid-2012.
Yen Press announced the rights to both, as well as well as Madoka Magica spin-offs Puella Magi Oriko Magica by Kuroe Mura and Puella Magi Kazumi Magica: The Innocent Malice by Masaki Hiramatsu and Takashi Tensugi at New York Comic Con.
From the original split announcement: