American Media Inc. has sold off the 97-year-old tabloid The National Enquirer to VVIP Ventures, a joint venture between Vinco Ventures, Inc. and a360 Media, for an undisclosed price, said to be about $100 million.
The National Examiner and Globe, and the UK edition of the Enquirer, are also part of the sale.
The owners had been looking to sell the tabloid since at least 2019.
The new owners told the New York Times that the titles were sold for a “a little less” than $100 million and claimed the tabloids are profitable from its print and subscription sales. Moving forward, the plan is to expand into TV, film and podcasts as well as harness the new company’s digital ad network, reports CNN.
The Enquirer has been the subject of renewed controversy as former President Donald Trump faces possible charges surrounding efforts to a hide an alleged illicit relationship. The Enquirer allegedly aided Trump in a “catch and kill” effort to buy and then spike a story where, according to other news outlets, former porn star Stormy Daniels detailed her sexual relationship with Trump.
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