Vinco Ventures joint venture to acquire National Enquirer

VVIP Ventures, a joint venture between Vinco Ventures and ICON Publishing has entered into an asset purchase agreement with magazine publisher a360 Media to acquire in cash the National Enquirer, the National Examiner and Globe. The transaction includes the acquisition of all print and digital assets and owned intellectual property of the National Enquirer, National Examiner and Globe. The editorial teams of a360 Media responsible for these publications will also join the joint venture. The acquisition brings more than 96 years of prized content into the Vinco multimedia ecosystem creating new opportunities for wide-scale exploitation through the company’s digital, film, TV, digital and social divisions. In addition to the acquisition of the National Enquirer, National Examiner and Globe, the asset purchase agreement also gives VVIP Ventures the exclusive right for a 90-day period to discuss additional business collaborations with a360 Media. The joint venture will also enter into a multi-year service agreement for publishing, financial and distribution services with a360 Media. The closing of the acquisition is subject to certain consents and customary conditions to closing as described in the asset purchase agreement. The media and entertainment team led by Tom Ara at DLA Piper LLP negotiated and advised VVIP Ventures on the acquisition.