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Longstanding comedy purveyor Funny Or Die has been acquired by prominent business and political figure Henry R. Muñoz III.

Muñoz is a business leader, architect, philanthropist, and Democratic fundraiser, Variety reports. The financial terms of the deal were not disclosed, but the acquisition includes the Funny Or Die brand, content library, original production slate, and its social media properties (which have amassed roughly 40 million followers).

Funny Or Die was founded 14 years ago by Will Ferrell, Adam McKay, and Judd Apatow. Muñoz purchased the brand from its stakeholders: AMC Networks, Turner, and Sequoia Capital.

Ferrell will continue to serve as an advisor to the company, and Funny Or Die’s existing executive team will remain onboard, including CEO Mike Farah, CFO and COO Michele Rosette, and chief creative officer Joe Farrell (who has been promoted from EVP of long-form development and programming).

Muñoz tells Variety that talks began after he collaborated with Funny Or Die on the CBS special Essential Heroes: A Momento Latino Event. Muñoz, who formerly worked for the Democratic National Committee, was also involved with President Obama’s decision to appear on Between Two Ferns With Zach Galifianakis.

In March, Funny Or Die sold its branded content division to Roku, which also saw the departure of roughly a dozen employees.

Recent Funny Or Die productions include IFC’s Brockmire and Netflix’s History Of Swear Words. The company is currently producing Guilty Party, a comedy starring Kate Beckinsale that will bow later this year on Paramount Plus.

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Source: TubeFilter.com

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