VVIP Ventures to acquire the National Enquirer, National Examiner and Globe from a360 Media in all-cash deal

VVIP Ventures LLC, a joint venture between Vinco Ventures Inc.
BBIG,
+8.37%
and Icon Publishing LLC, has agreed to acquire the National Enquirer U.S. and U.K. editions, the National Examiner and Globe from publisher a360 Media LLC in an all-cash deal. Terms were not disclosed, but VVIP Ventures has the right to a 90-day period to discuss other business deal with a360 Media. Vinco Ventures expects to create new monetization opportunities for the news portfolio via AdRizer, a publisher and analytics company that it acquired in February of 2022. Vinco will also aggressively pursue TV, film and podcast licensing partnerships to leverage the Enquirer’s archive, investigative journalism and breaking news. Vinco stock has fallen 67% in the last 12 months, while the S&P 500
SPX,
-0.61%
has fallen 8%.