Iconic Labs Plc (LON:ICON) is working with Greencastle Capital on a deal to buy the Joe media brand and its assets in the UK and Ireland.
Joe is under the control of Maximum Media, currently the subject of an examinership process in the Republic, and Joe Media Limited, which is currently in administration in the UK.
Greencastle’s indicative bid for both companies is into the last stages it said, with final due diligence expected to take place this week.
Iconic Labs said that if successful, it and Greencastle intend to enter into a management services agreement where it will manage the Joe assets.
Iconic Labs has a management services agreement with another publisher majority-owned by Greencastle, TheLondonEconomic (TLE).
Greencastle is ultimately owned and controlled by David Sefton.
JOE is social media-based video news, sports, politics publisher that claims 100mln views a month.