Is West Hollywood’s humor for sale?
Fortune reports that “College Humor,” a West Hollywood-based producer of online comedy videos, photos and articles, is on the market. And Bloomberg reports that Will Ferrell’s WeHo-based “Funny or Die,” another comedy website, has engaged a financial advisor to explore options for a sale.
According to Fortune, InterActiveCorp (IAC) is seeking $100 million for College Humor. Bloomberg says that Funny or Die, whose co-founders include Adam McKay and Judd Apatow, is looking to sell for $100 million to $300 million. Funny or Die’s videos have received millions of views on YouTube as have those of CollegeHumor.
IAC bought a majority stake in College Humor in 2006 for $20 million, according to Fortune. Los Angeles Business Journal reports that College Humor moved its production facilities to West Hollywood earlier this year.
The content of both Funny or Die and College Humor is aimed at college-age young people. The sites produce original videos and animations and also accept submissions from users.