In 2007, while YouTube was still in its infancy, Will Ferrell, Adam McKay, Judd Apatow, and Chris Henchy co-founded the website Funny or Die. Over time, the website began to develop its own identity, featuring cameos by some of the biggest names in comedy and entertainment, and acquiring millions of views per video.
And today marks a new era for the site as it has a new owner. The site, its IP, and subscribers have been purchased from its previous owners AMC Networks, Turner Entertainment, and Sequoia Capital. The new owner is Henry R. Muñoz III, who is described as a designer, activist, and philanthropist. Muñoz will now be the sole owner of the brand moving forward, with Ferrell continuing to collaborate with the site creatively and even staying on as an advisor. Mike Farah, the company’s current CEO, will also be staying on board. This deal comes on the heels of the brand losing a handful of key execs to Roku this past March.
“The future of comedy and entertainment is in companies that empower talent and creative forces to make content that reflects the cultural identity of our country at this moment in our history,” Muñoz said in the official announcement. “Funny Or Die’s own rich history as a place of innovation and as a voice of new generations speaks for itself and our team led by Mike Farah is poised to seize this unique moment. I understand the responsibilities of owning a brand like Funny Or Die and I am excited to work with our team to make sure we have the resources we need to develop funny, original and diverse new content.”
Muñoz continued, “I also understand the importance of being one of the very few Latinos in a position like this in the entertainment industry and I will do my best to make my community, our industry and our country proud as we move forward,” he added. Diversity and inclusion will be more central to the company’s mission moving forward, he noted.
Mike Farah added that Muñoz’s “unique background in social activism and business” makes him the “perfect person to guide FOD into the future.” He continued, “The company is in great hands with Henry, and he’s brought a new sense of purpose to our mission to empower original, authentic creators in comedy and beyond.”
No word on how much the acquisition cost has been revealed.