MONTREAL (CelebrityAccess) — Quebec’s ComediHa! announced it has completed the acquisition of key assets of the iconic Canadian comedy brand Just For Laughs.
The sale comes as Just For Laughs struggled to find its footing in the wake of the pandemic, forcing a restructuring of the company and the sale of the assets was approved by a Superior Court Judge in Quebec earlier this week.
Assets acquired by ComediHa! include the brands Juste pour rire, Just For Laughs, ZooFest, ComedyPro, the Gags, and the audio-visual catalogue.
According to ComediHa!, the closing of the deal will bolster the company in all areas of its business, including festivals, live production, television production, tour promotion, distribution, and content monetization. Going forward, ComediHa! will continue to foster current and new comedy talent in Quebec and internationally.
“This asset acquisition will enable us to offer even more diverse entertainment experiences to our Quebec, Canadian and global audiences while supporting the growth and development of our artists and content around the world. We are also becoming a strategic player for international artists who want to perform in Quebec and Canada,” said Sylvain Parent-Bédard, CEO of ComediHa!
Additionally, ComediHa! plans to accelerate its development of broadcasting platforms, including its subscription service ComediaHA.tv and on-demand video services with an infusion of content from the Just For Laughs catalog. Amuz Distribution (a subsidiary of ComediHa!), will take point on international distribution.
“We are on the first day of a new era and a new plan to implement. More than ever, we want to meet fans, festivals, viewers, creators, artists, artisans, producers, agents, managers, public partners, sponsors, showrooms, and broadcasters, from Quebec, Canada, the Francophonie, and the entire world, to add Mr. Parent-Bédard. The acquisition of Just For Laughs’ assets, developed over 40 years, will undoubtedly enable us to continue our mission of making the world laugh worldwide and contributing proudly to our cultural, tourist and economic landscape.”
