It is a new stage for Quebec comedy and Quebec Metropolis-based leisure agency ComediHa!

 A Quebec Superior Court docket choose authorized an settlement Monday that can see the corporate receive some property from Simply For Laughs, which sought creditor protection in March.

Below the phrases of the settlement, ComediHa! won’t purchase the corporate in its entirety, however take possession of Juste pour rire, Simply For Laughs, ZooFest, ComedyPro and the Gags manufacturers, plus the audiovisual catalog.

In a information launch Tuesday, ComediHa! mentioned it intends to “consolidate its place as a significant actor in comedy in Quebec, in Canada and internationally.”

The price of the transaction was not introduced by ComediHa!

“It is an entire new period,” the corporate wrote.

ComediHa! mentioned it intends to “pursue and speed up the event of its broadcast platforms, together with the positioning of its subscription service ComediHa.television.”

It additionally intends to “redefine its improvement plans with the intention to help progress in all of its sectors of exercise, together with festivals, manufacturing of stay exhibits, tv promotion, tour promotion, distribution and monetization of content material.”

Groupe Juste pour rire inc., the dad or mum firm of the Only for Laughs Montreal comedy pageant and a number of other different comedy-related companies, cancelled this 12 months’s version of the summer time pageant in March.

The corporate cited misplaced revenues throughout two years of the worldwide pandemic and challenges dealing with the media business, significantly decreased budgets at networks and streaming platforms, as causes for restructuring.