Howie Mandel arrives on the red carpet at the 2017 Canadian Screen Awards in Toronto on Sunday, March 12, 2017. (THE CANADIAN PRESS/Chris Young)

Just For Laughs sold to Howie Mandel

Just For Laughs sold to Howie Mandel and U.S. company ICM Partners

Just For Laughs has been sold to an investor group led by Canadian-born comedian Howie Mandel and ICM Partners, an American talent agency.

Financial terms of the deal were not immediately available.

The new owners said the company will continue normal operations, with the same leadership in place.

Mandel says he has always been a big fan of the annual Montreal comedy festival and performed many times over the last decade.

“I consider it to be a cultural treasure not only for the Montreal and Quebec communities, but also for Canada,” he said in a news release.

“I am very excited to be part of this group of investors that will ensure the festival’s long term success, while growing their global comedy brand.”

In addition to the comedy festival in Montreal started in 1983, Just For Laughs produces international comedy tours, television specials and annual festivals around the world including in Toronto, Vancouver and Sydney, Australia.

It has production and distribution businesses in more than 135 countries and its programming is seen on more than 100 airlines.

Chris Silbermann, managing director of ICM Partners, said the Montreal festival has been built into a successful global business.

“We see a great opportunity to work with them to grow the global comedy brand, in both French and English speaking comedy, while allowing the team on the ground in Montreal to continue to produce the festival as they have so successfully for all these years.”

Festival chairman Pierre-Marc Johnson said the strategic alliance with Mandel and ICM ensures it has the resources to thrive.

The new owners said they are in talks with prominent unnamed local Quebec players to join the investment group.

The 36th annual festival runs from July 14 to 28 in Montreal.

Related: Canadian comic Mike MacDonald dies at 62

The company was rocked last fall after several women came forward with allegations of sexual assault and sexual harassment against its founder and majority stakeholder, Gilbert Rozon.

Rozon said he would sell his majority shares in the Just For Laughs company he founded in response to the allegations, which he has denied and have not been proven in court.

Media giant Quebecor Inc. said last week that it would not exercise its right of first refusal in the sale of Just for Laughs.

It had claimed that the company can’t be sold without its consent and filed a request for an injunction in Quebec Superior Court, demanding its 2012 partnership deal with the comedy festival be respected.

On Monday, its cable subsidiary Videotron announced it is becoming a partner of a new Montreal comedy festival that will be launched this summer over the two weeks preceding Just for Laughs.

Companies in this story: (TSX:QBR.B)

Ross Marowits, The Canadian Press

Like us on Facebook and follow us on Twitter.

Just Posted

Oak Bay’s Spandads help give new life to used bikes

Local cycling club is donating 100 bikes worldwide to those in need

Trapped Vancouver Island crash survivor celebrates second chance at life

“Life is good now. It’s good to be alive.”

More affordable housing for Indigenous residents coming to Langford

40 units will be added to Station Avenue development

Reader Response: Victoria’s wages not meeting general needs

Victoria was recently ranked as one of the worst cities in B.C. to work in due to low average income

VIDEO: Ballet Victoria’s take on the The Nutcracker tours Vancouver Island and the Mainland

Performances in Revelstoke, Coquitlam, Chilliwack and Victoria

POLL: Are you dreaming of a white Christmas?

The rain Vancouver Island is famous for is coming down in buckets,… Continue reading

Greater Victoria Crime Stoppers wanted list for the week of Dec. 11, 2018

Greater Victoria Crime Stoppers is seeking the public’s help in locating the… Continue reading

Sissons scores OT winner as Predators beat Canucks 4-3

VIDEO: Vancouver battles back to earn single point in Nashville

High streamflow advisory in effect across the Island

River Forecast Centre issues advisory as Pacific storms batter the coast

Lions announce seven members of coaching staff not coming back for 2019

The operational moves come two days after the Lions announced DeVone Claybrooks as the team’s new head coach

Man in his 60s dies in ATV accident north of Parksville

BC Coroners Service investigating the death

VIDEO: Kitten rescued from under school bus in Duncan

School staff have affectionately called kitten “Axle”

$12K awarded to atheist family who oppose Christmas, Hanukkah in B.C. classroom

Gary Mangel,May Yasue said holidays, Remembrance Day and Valentine’s Day not appropriate in preschool

Most Read