AMC Networks Inc. today announced it had acquired a minority stake in comedy website Funny or Die Inc., based in Hollywood.
The investment will allow Funny or Die and AMC – which owns and operates the comedy network IFC – to expand their collaborations so the companies can work together on larger business and creative initiatives that will leverage IFC’s strength in the linear space and Funny Or Die’s digital and social presence.
Funny or Die will continue to operate independently, allowing it to invest in its growth by also working with other distributors, networks and studios, according to the company. Following the investment, IFC President Jennifer Caserta will join the Funny Or Die board.
The investment comes on the heels of Funny Or Die’s restructuring, as the company announced the closure of its San Mateo office in August and announced it was laying off 37 of its staff of around 130 employees as it refocused its resources on creating content.
“This is really the perfect partnership for us, because we get to work closely with a brand and team at IFC that we trust and respect, while also staying true to the irreverent, independent vision of our founders, Will Ferrell and Adam McKay,” said Mike Farah, chief executive at Funny Or Die in a statement.
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Funny Or Die launched in 2007 and reaches a global audience of more than 60 million, according to the company. Funny Or Die’s founders are Gary Sanchez Productions (Will Ferrell, Adam McKay, and Chris Henchy) and Creative Artists Agency (CAA). Judd Apatow is also a principal partner.
Media and entertainment reporter Kristin Marguerite Doidge can be reached at email@example.com. Follow her on Twitter @kmarguerite_usc for the latest in L.A. media news.
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