A company co-founded by Dragons' Den star Steven Bartlett has agreed to sell a number of digital assets to the owner of Entertainment Daily, The Daily Mash, The Tab, and The Poke for $800,000.
Manchester-based Media Chain Group will sell the digital assets of 99 Problems, Student Problems and The Life Network Shopping to Digitalbox plc.
Media Chain Group was previously part of the broader Social Chain business established in 2014 by Mr Bartlett and Dominic McGregor.
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Social Chain became part of Germany-headquartered The Social Chain AG business in 2019 and operated in two divisions, an agency that was sold in February this year and the media division that houses over 20 social pages with more than 60 million followers.
Digitalbox chief executive James Carter said: "The opportunity to acquire some of the Media Chain Group assets is an excellent way for us to explore significantly extending the audiences currently being served by the Digitalbox brands.
"With 99 Problems having started life as a social page called Student Problems, we believe there are plenty of synergies to build around The Tab whilst there is very strong common ground between Entertainment Daily's audience and those who follow The Life Shopping Network.
"The management team will get to work straight away on proving this case before completion."
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Christian Grobel, CEO of Media Chain Group, added: "We are pleased to be offering these assets to a great home.
"The audience bases we have built will complement the Digitalbox portfolio and benefit from the company's talented editorial departments. We wish them the best of luck with the next stage of development for their brands."
Earlier this year, BusinessLive reported that Social Chain had been sold in a deal worth at least £7.7m to social and digital media group Brave Bison.
Social Chain works with brands such as Amazon, TikTok, KFC and Apple Beats to create social media advertising campaigns and perform influencer marketing services.
The business has a total headcount of 122 staff, with offices in Manchester, New York and London.
Mr Bartlett and Mr McGregor did not retained a stake in the company and did not financially benefited from the sale.