A Quebec-based entertainment group confirms it will acquire a number of assets from the financially troubled Just for Laughs comedy company.
ComediHa! said Tuesday that a judge has approved its bid to acquire the brands Juste pour rire, Just For Laughs, ZooFest, ComedyPro, the Gags, as well as the audiovisual catalogue.
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The announcement comes after Just for Laughs cancelled its Montreal and Toronto festivals this year and sought creditor protection.
ComediHa! announced last week that it had reached an agreement to acquire the assets but that the deal had to be approved by Quebec Superior Court.
A court filing earlier this year from insolvency trustee PwC said Groupe Juste pour rire booked a net loss of more than $7.9 million in the first 10 months of 2023.
ComediHa! says it plans to expand its presence in a number of sectors including festivals, live production, television production, tour promotion, distribution, and content monetization. The amount of the transaction was not disclosed.
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