(WBBM NEWSRADIO) — A private equity investor reportedly is near a deal to buy The Second City and its improv-training business.
The Financial Times reports media mogul Strauss Zelnick is in final discussions to acquire Second City assets for about $50 million.
Strauss, of the private equity firm ZMC, is also associated with the video game group behind the popular “Grand Theft Auto."
Second City’s owners in October announced their hopes to sell the operation, which was hit hard by pandemic-related closures. The comedy enterprise is based in Chicago and also has theaters in Toronto and Los Angeles.
It’s best known for helping launch the careers of countless comedy stars such as John Belushi, Bill Murray and Tina Fey.
Second City, which dates to 1959, has billed itself as a diversified business with a valuable brand. The Times reports there were several interested buyers.
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