Just for Laughs to be sold after reaching deal with investors group
Former Montreal Canadiens defenceman P.K. Subban hosts the P.K. Subban All-Star Comedy Gala at the Just for Laughs comedy festival in Montreal, Monday, August 1, 2016. The embattled Just for Laughs group says it has found a buyer.The Montreal-based company says it has reached an agreement in principle with an unnamed group of investors. THE CANADIAN PRESS/Graham Hughes
March 03, 2018 - 1:08 PM
MONTREAL - The embattled Just for Laughs group says it has found a buyer.
The Montreal-based company says it has reached an agreement in principle with an unnamed group of investors.
The company says the deal puts the ball in the court of media giant Quebecor, which can exercise its right to first refusal and equal the group's offer in the next 12 days.
Just for Laughs was rocked after several women came forward last fall with allegations of sexual assault and sexual harassment against its founder and majority stakeholder, Gilbert Rozon.
Rozon said he would sell his majority shares in the Just for Laughs company he founded in response to the allegations, which he has denied and which have not been proven in court.
Companies in this story: Quebecor (TSX;QBR.B)
News from © The Canadian Press, 2018