ComediHa! confirms acquisition of certain assets from Just for Laughs group
Posted June 4, 2024 9:29 am.
Last Updated June 4, 2024 11:50 am.
ComediHa! confirmed Tuesday that it plans to acquire certain assets of the Just for laughs group, saying it is now entering a “new era.”
On Monday, the Quebec Superior Court approved an agreement which provided that ComediHa! would acquire certain assets of Just for Laughs, who filed for creditor protection in March.
Under the terms of the agreement, ComediHa! will not acquire Just for Laughs in its entirety, but take ownership of the Juste pour rire, Just For Laughs, ZooFest, ComedyPro and the Gags brands, in addition to obtaining the audiovisual catalogue.
The transaction amount was not disclosed by ComediHa! in its press release.
However, the company emphasized its desire to “consolidate its place as a major player in the Quebec, Canadian and international comedy scene.”
ComediHa! wants to “continue and accelerate the development of its network of broadcast platforms, including the positioning of its subscription service ComediHa.tv.”
It says it also wants to “redefine its operating plans in order to support growth in all of its business sectors,” including festivals, live show production, television production, tour promotion, distribution, and content monetization.
“We are on day one of a new era and a new plan to implement,” said ComediHa! president and CEO Sylvain Parent-Bédard. “This asset acquisition will allow us to offer even more diversified entertainment experiences to our Quebec, Canadian and global audiences, while supporting the growth and development of our artists and content around the world.”
This summer, to mark its 25th anniversary, ComediHa! will hold its usual ComediHa! Fest from Aug. 1 to 24 in Quebec City, as well as ComediHa! salutes Montreal from July 18 to 28.
Laurent Paquin, Martin Petit, Fabien Cloutier and Korine Côté are among the performers scheduled for the event in Quebec City, while the artists participating in the Montreal event will be announced on Wednesday.
–This report by La Presse Canadienne was translated by CityNews
