ComediHa! confirmed on Tuesday that it plans to acquire certain assets from Groupe Juste pour rire, saying it is now entering a “new era.”
On Monday, the Quebec Superior Court approved an agreement under which ComediHa! would acquire certain assets of Just for Laughs, which filed for creditor protection in March.
Under the terms of the agreement, ComediHa! will not acquire Just For Laughs in its entirety, but take possession of the Juste pour rire, Just For Laughs, ZooFest, ComedyPro and the Gags brands, plus the audiovisual catalog.
The price tag behind the transaction was not disclosed by ComediHa! in its press release.
However, the company emphasized its desire to “consolidate its position as a major player in the Quebec, Canadian and international comedy scene.”
In particular, ComediHa! says it intends to “pursue and accelerate the development of its network of broadcast platforms, including the positioning of its ComediHa.tv subscription service.”
It says it also wants to “redefine its operating plans to support growth in all its business sectors,” including festivals, live show production, television production, tour promotion, distribution and content monetization.
“We’re on Day 1 of a new era and a new plan to implement,” said ComediHa! president and CEO Sylvain Parent-Bédard. “This asset acquisition will enable 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 worldwide.”
This summer, to mark its 25th anniversary, ComediHa! will hold its 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 Quebec City event, while the artists participating in the Montreal event are slated to be announced on Wednesday.
— This report by The Canadian Press was first published in French on June 4, 2024.