Business

Second City comedy empire seeks buyer

Posted October 05, 2020 11:00 pm

CHICAGO - The owners of The Second City announced plans Tuesday to sell the iconic comedy brand's diversified business.

This is only the second time in the comedy empire's 60-year history that it has been available for sale.

The company's theater is open for live shows in Toronto, and the evolving pandemic situations in Chicago and Los Angeles are being closely monitored. Both comedy classes and corporate entertainment and education programs have moved online as the company meets the needs of its 25,000-strong student body and blue chip client base.

"I have had an extraordinary 47-year run guiding this wonderful living, breathing, dynamic comedy institution. Watching the talent development process has given me more joy than one person should be allowed," said Andrew Alexander, a current owner of The Second City and former CEO. "But it is time for a new generation with fresh ideas to take the company to the next level."

Global investment bank Houlihan Lokey will advise on the sale.

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