About a year ago, AOL and HBO attempted to create a comedy site called This Just In, but it didn’t quite work out for them. Now Home Box Office, Inc. is investing in Will Ferrell’s FunnyOrDie.com.
Although the investment amount is unknown, HBO will get less than 10% in equity. Through the deal, Time Warner Inc. (NYSE:TWX), parent company of HBO will have the rights to 10 half hour programs on the site and both companies will work on partnerships. FunnyOrDie will be doing live comedy tours and there will possibly be a FunnyOrDie programming slot on of HBO’s subsidiary channels.
This deal comes about a month after HBO announced that their programs will be available on iTunes. Aboutï¿½6 months ago, Funny or Die hiredï¿½former NASCAR VP and founder of ESPN.com, Dick Glover. Sequoia Capital and several other VCs invested $15 million in FunnyOrDie.com last year. FunnyOrDie’sï¿½valuation is now $100 million according to Variety.
paidContent: HBO Buying Small Stake in FunnyOrDie; Less Than 10 Percent by Rafat Ali