Québecor Inc (TSX: QBR.A-B) has acquired a minority interest in ComediHa!, a Québec City-based creator of comedy content distributed across a range of broadcast platforms.
No financial terms were disclosed.
Québecor, a Montréal-based telecommunications and media company, joins Fonds de solidarité FTQ, which has been a minority shareholder since 2012.
Founded in 1997 by President and CEO Sylvain Parent-Bédard, ComediHa! has produced more than 3,000 live shows, including ComediHa! Fest-Québec, and over 500 television shows.
The partnership with Québecor will help fuel the company’s growth in Québec and internationally.
ComediHa! welcomes Quebecor as a strategic partner
QUÉBEC CITY, Nov. 20, 2018 /CNW Telbec/ – ComediHa!, a comedy leader in Québec and across the French-speaking world, is pleased to announce that Quebecor has a acquired a minority interest in the entirety of its assets. Quebecor’s expertise and resources, combined with those of the Fonds de solidarité FTQ, a minority shareholder since 2012, will provide ComediHa! with unprecedented support to help propel its growth throughout Québec and internationally, for the benefit of Québec artists and cultural workers.
“This is great news not only for ComediHa! and its employees but for the entire comedy industry and the people who work in it,” said Sylvain Parent-Bédard, Founding President and CEO of ComediHa! “Within the past few months, we have adopted a strategic plan to help us tackle the many challenges that are transforming the global entertainment industry. Quebecor’s arrival will be a powerful driver for our growth and enable ComediHa! to position itself as a comedy industry leader in Québec and the French-speaking world. The new synergies with Quebecor and the Fonds de Solidarité FTQ will enable us to export more Québec cultural content internationally and create new opportunities and better support for artists in our industry.”
“Quebecor is proud to team up with ComediHa!, an organization that is growing at a remarkable pace and has become one of the most influential players in the booming comedy industry,” said Pierre Karl Péladeau, President and CEO of Quebecor. “Together, we will be able to strengthen our positioning in the entertainment industry and leverage our complementary activities to create more new content for more platforms. It will be a pleasure to work with Sylvain Parent-Bédard, a creative and visionary entrepreneur, and his team.”
“The Fonds de solidarité FTQ has had front-row seats to the recent successes of ComediHa!, having invested in the Agency in 2012,” said Gaétan Morin, President and CEO of the Fonds de solidarité FTQ. “Those successes were made possible by the hard work and creativity of Sylvain Parent-Bédard and his entire team. The new partnership announced today will strengthen the position of ComediHa! as a Québec cultural industry leader, at home and abroad.”
Making people laugh around the world
Sylvain Parent-Bédard will continue overseeing all ComediHa! teams and operations, and its head office will remain in Québec City, where it has been since the Agency was founded. Business as usual will continue at the Montréal and Los Angeles offices.
ComediHa! has grown rapidly in the last three years. Its stable of artists and creators under management has expanded significantly, its roster of original television productions and creations has lengthened (notable additions in the last year alone include File d’attente, Comédie sur mesure and Roast Battle), new broadcast platforms have been developed and its reach has increased in all parts of Québec.
About ComediHa! Voir la vie en drôle
ComediHa! is a major creator of comedy content distributed through multiple broadcast platforms, including live and televised. Its 60 full-time permanent employees and more than 1,400 temporary employees and freelancers have a passion for “making people laugh worldwide.” ComediHa! has over 20 managed artists and creators. Its offices are located in Québec City (head office), Montréal and Los Angeles. The content it creates and produces reaches millions of comedy fans around the world. ComediHa! also produces ComediHa! Fest-Québec, a major festival held in Quebec City in August. Since it was founded in 1997, ComediHa! has produced over 3,000 live shows and more than 500 television shows.
Quebecor, a Canadian leader in telecommunications, entertainment, news media and culture, is one of the best-performing integrated communications companies in the industry. Driven by their determination to deliver the best possible customer experience, all of Quebecor’s subsidiaries and brands are differentiated by their high-quality, multiplatform, convergent products and services.
Québec-based Quebecor (TSX: QBR.A, QBR.B) employs more than 10,000 people in Canada.
A family business founded in 1950, Quebecor is strongly committed to the community. Every year, it actively supports more than 400 organizations in the vital fields of culture, health, education, the environment and entrepreneurship.
Visit our website: www.quebecor.com
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About the Fonds de solidarité FTQ
The Fonds de solidarité FTQ is a capital development fund that channels the savings of Quebecers into investments. With $14.3 billion in net assets as at May 31, 2018, the Fonds has helped create and maintain over 194,746 jobs. The Fonds has more than 2,839 partner companies and 667,417 shareholder-savers. More information: www.fondsftq.com
For further information: Source: ComediHa!, Marie-Josée Tremblay, Public Relations Officer, ComediHa! Agency, 418 473-2700 | firstname.lastname@example.org; Information: Mylène Demers, Senior Advisor, CASACOM, 514 261-5840 | email@example.com