A360 Media has agreed to sell the publication in a cash deal to VVIP Ventures, a joint venture of the digital media company Vinco Ventures and a new company set up for the purchase, Icon Publishing, the companies announced on Monday. The price was not disclosed.
Two of the National Enquirer’s stablemates, the National Examiner and Globe, will also be acquired as part of the deal, along with the British edition of the Enquirer.
One of the new buyers of the National Enquirer, Icon Publishing, was founded by Ted Farnsworth, the former chairman of the start-up theater subscription company MoviePass. The NY Times reports Farnsworth was indicated in November by the Department of Justice on charges of defrauding investors. Farnsworth declined to comment on the charges.
The other buyer in the joint venture, Vinco Ventures, has a majority stake in Lomotif, a TikTok rival, and owns AdRizer, an ad tech company.
The buyers said in an interview that they planned to expand the publications’ digital presence and tap the Enquirer’s expansive archives of nearly 100 years of celebrity news and gossip.
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