BBIG - National Enquirer National Examiner Globe sold to Vinco joint venture

• VVIP Ventures, a joint venture between Vinco Ventures ( NASDAQ: BBIG ) and Icon Publishing, announced on Monday a cash deal to acquire assets from magazine publisher a360 Media.
• Pursuant to an asset purchase agreement, the JV will acquire all print and digital assets and owned intellectual property of the National Enquirer (both U.S. and U.K. editions), National Examiner and Globe, and also retain the editorial teams of a360 Media responsible for these publications.
• In addition, VVIP Ventures will enter into a multi-year service agreement for publishing, financial and distribution services with a360 Media. The deal also gives the JV an exclusive 90-day window to discuss additional business collaborations with a360 Media.
• Icon Publishing founder Theodore Farnsworth was also formerly chairman of MoviePass. He's been criminally charged with securities fraud for misleading investors about the profitability of MoviePass' "unlimited" movie attendance plan.
• Shares of Vinco Ventures ( BBIG ) surged around 10% in Monday's session.

For further details see: