Last year, it was reported that the famed The Second City, which has theaters in Chicago, Toronto, and L.A., was up for sale. The famed improv theater, founded in 1959, has become a iconic staple of the improv comedy scene.
And now it’s been disclosed that the legendary theater has been acquired by private equity firm ZMC, which was founded by Strauss Zelnick. However the precise amount that it was purchased at has not been disclosed.
“We are very excited to partner with management and the incredible talent at The Second City to grow the brand and build a diverse organization that elevates all voices,” said Jordan Turkewitz, co-chief investment officer and managing partner at ZMC. “Over its sixty-year history, The Second City has been home to some of the most beloved names in comedy, and we plan on building the next generation of comedy talent by investing in people and creativity.”
“We are thrilled to work with ZMC as we continue to transform the company into an equitable and thriving environment while delivering world-class comedy to our audiences,” said Steve Johnston, president of The Second City. “I want to thank the talent, staff, alumni and audiences of The Second City for supporting us on our journey.”
This is great news for the comedy Mecca, who boasts names that include John Belushi, Dan Aykroyd, Chris Farley, Tina Fey, Amy Poehler, Alan Arkin, Gilda Radner, Bill Murray, John Candy, Keegan-Michael Key, Mike Myers, and beyond. With all the history within those walls, though, we had a good feeling it’d be saved.