AMC takes a piece of Funny or Die as it looks to grow audience

AMC has taken a minority share in Funny or Die, the online comedy channel, in a deal that aims to leverage the strength that AMC-owned IFC has in the linear space and Funny or Die has online and in social media.

“Both IFC and Funny or Die have a proven track record of producing breakout content,” said IFC president Jennifer Caserta. “The ability to work together more closely and increase our commitment to delivering more content on all platforms makes for an extremely significant partnership for both companies, and for the millions of fans of our comedy. It also marks a small, but important, first step towards my ultimate goal of appearing on Between Two Ferns with Zach Galifianakis.”

Caserta will join the Funny or Die board.

Funny or Die, launched by actor Will Ferrell, director Adam McKay and Chris Henchy, and Creative Artists Agency in 2007, reaches about 60 million viewers globally.

Financial terms of the deal were not disclosed.

“This is really the perfect partnership for us, because we get to work closely with a brand and team at IFC that we trust and respect, while also staying true to the irreverent, independent vision of our founders, Will Ferrell and Adam McKay,” said new CEO Mike Farah. “This move will be great business for both of our companies as we capitalize on our combined audiences, our complementary platforms, and our premium content.”

Stay tuned.

Jim O’Neill is Editor of Videomind and Principal Analyst at Brightcove. You can follow him on Twitter @JimONeillMedia and on LinkedIn