National Enquirer to be sold to VVIP Ventures

VVIP Ventures, a partnership between digital media company Vinco Ventures and publishing house ICON founded by Theodore Farnsworth, has agreed to buy the National Enquirer and its sister publications. Photo courtesy of ZASH Global Media

Feb. 6 (UPI) — VVIP Ventures will buy the infamous tabloid National Enquirer and its sister publications, the company announced Monday.

VVIP Ventures will make the purchase in an attempt to expand its presence in the world of celebrity news. The company is a partnership between a digital media company Vinco Ventures and publishing house ICON, founded by former MoviePass CEO Theodore Farnsworth.

In a press release announcing the purchase, VVIP said the move is the first step towards its goal of becoming “one of the world’s largest content publishers in the celebrity arena.” He plans to continue publishing celebrity news in the National Enquirer in the US and UK, as well as in the Globe and National Examiner, which are owned by A360media.

“Vinco’s digital platforms and capabilities are well positioned to maximize revenue from these iconic and already profitable media brands,” said Rod Vanderbilt, executive chairman of VVIP.

“Our digital ecosystem will be critical to enhancing the reputation and visibility of the National Enquirer, National Examiner and Globe to a wider audience, and the editorial team that joins us from these publications will play an important role in this effort.”

According to the press release, the editorial staff of these publications will remain in the state.

The National Enquirer has faced many controversies in its nearly 97-year history. No more than when its then-parent company, American Media Inc. admitted to buying articles that cast a bad light on Donald Trump, only to have those stories never get published. A “catch and kill” tactic was used to force women not to publicly declare sexual relations with Trump ahead of his 2016 presidential campaign.

Vinco Ventures founder Theodore Farnsworth is no stranger to controversy. In November, Farnsworth was charged conspired to defraud MoviePass investors as part of a scheme to attract new investors, the Justice Department said. He and his accomplice J. Mitchell Low face a maximum sentence of 20 years in prison for each count against them.

Farnsworth became CEO Vinco Ventures last July. He said New York Times that the agreement to buy the National Enquirer and other publications was about $100 million.

As part of the purchase agreement, VVIP Ventures has the exclusive right to discuss further partnership with A360media within 90 days.

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