Kevin Hart Expands Hartbeat Media Business With $100 Million Investment From Abry Partners

variety.com:

Cynthia Littleton Business EditorKevin Hart is expanding his busy comedy production empire with the merger of two existing production banners and an influx of $100 million though the sale of a minority stake to private equity firm Abry Partners.With the deal, Hart combines HartBeat Productions and Laugh Out Loud into a single HartBeat banner led by CEO Thai Randolph, who helped raise the capital and had been chief operating officer of both companies.

NBCUniversal remains a shareholder after taking an equity stake in Laugh Old Loud in 2020.Hart’s banners have active delivering theatrical movies (“Night School”), documentaries (Showtime’s “The One and Only Dick Gregory”), comedy series (FX’s “Dave”), Netflix titles (“Fatherhood,” “True Story”) and host of digital content for SiriusXM, Peacock, Roku, Peacock, PlutoTV and Vizio, among others.

HartBeat’s brand division has done work for Nick Cannon’s Wild ‘N Out tour and Shaq Comedy All Star Jam, among thers. Given the breadth of Hart’s comedy orbit, HartBeat is well-equipped to turn out buzzy short-form content from Hart as well as such comedy stars as Tiffany Haddish, Hasan Minhaj, Amanda Seales, Deon Cole and Affion Crockett.With the shuffle, Hartbeat Productions’ Bryan Smiley becomes president and chief content officer of HartBeat.

LOL’s Jeff Clanagan segues to president and chief distribution officer. Leland Wigington, co-founder of HartBeat Productions, will shift to a production deal under HartBeat.