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Famed Comedy Outfit The Second City Acquired By Strauss Zelnick-Run Private Equity Firm ZMC

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The Second City, the famed Chicago improv comedy outfit, has been acquired by private equity firm ZMC, whose founder and managing partner is longtime media figure Strauss Zelnick.Financial terms for the deal were not disclosed.

Houlihan-Lokey served as a financial advisor to Second City on the transaction. The M&A firm generally specializes in middle-market deals such as the sale of the XFL or Univision’s acquisition of Spanish-language streaming service Vix.Second City, founded in 1959, gained fame from its theaters in Chicago, Toronto and Hollywood.

Alumni of its stages, touring companies and theatrical productions include Dan Aykroyd, John Belushi, Steve Carell, Stephen Colbert, Julia Louis-Dreyfus, Tina Fey, Keegan-Michael Key, Eugene

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