Second City Is Sold to Private Equity Group

Second City Is Sold to Private Equity Group

At HomeBake: Maximalist BrowniesListen: To Pink SweatsGrow: RosesUnwind: With Ambience VideosSecond City Is Sold to Private Equity GroupThe comedy company has faced intense criticism over race and had committed to restructuring. The new owner, ZMC, said it would not abandon this plan.Second City, in Chicago, also has outposts in Hollywood and Toronto. “We are very excited to partner with management and the incredible talent at The Second City to grow the brand and build a diverse organization,” ZMC said in a statement.Credit...Danielle Scruggs for The New York TimesBy Melena RyzikFeb. 18, 2021, 1:25 p.m. ETSecond City, the storied comedy theater, which for more than half a century has helped define American humor, was sold to a private equity group on Thursday, the company said in a statement. The group, ZMC, run by Strauss Zelnick, invests in media entities; Zelnick is also the chief executive of Take-Two Interactive Software, the video game conglomerate behind Grand Theft Auto.It is the first time Second City, which is based in Chicago and has outposts in Hollywood and Toronto, has changed ownership since the 1980s, when Andrew Alexander, a producer and former head of the Toronto location, took over as co-owner and chief executive. Since