The Second Metropolis comedy theatre — the place performers together with Eugene Levy, Catherine O’Hara, Invoice Murray, John Sweet, Martin Quick, Steve Carell, Mike Myers, Tina Fey and others received their begin — has been put up on the market.
In an announcement launched Tuesday, co-owner Andrew Alexander mentioned a sale presents the chance for Second Metropolis to succeed effectively into the long run.
“I’ve had a unprecedented 47-year run guiding this excellent dwelling, respiration, dynamic comedy establishment. Watching the expertise improvement course of has given me extra pleasure than one particular person ought to be allowed. However it’s time for a brand new technology with contemporary concepts to take the corporate to the following degree,” Alexander mentioned, within the assertion launched by Los Angeles funding financial institution Houlihan Lokey, which is advising Second Metropolis’s homeowners on the sale.
“What we’re searching for is important reinvestment within the enterprise that may permit us to proceed to develop in the suitable methods and with the suitable sources whereas remaining an oasis of talking reality to energy and offering important human connection in an more and more complicated world.”
Based in 1959 in Chicago, Second Metropolis expanded through the years with places in Hollywood, Calif., and Toronto as of 1973. The corporate suspended all its reveals and courses in early Marchdue to the COVID-19 pandemic, though it has since reopened on a restricted foundation. The Toronto location is capped at 50 viewers members, which is lower than one sixth of the venue’s capability, and masks carrying is obligatory.
The corporate confronted controversy in June when Alexander stepped down from the coaching and efficiency troupe as a consequence of allegations of racism inside the firm.
Second Metropolis is co-owned by Alexander and D’Arcy Stuart, though its president, Steve Johnston, additionally has a small fairness share. When he stepped down, Alexander mentioned he was going to promote his half of the theatre. The 2 co-owners determined quite than attempt to promote about half of the establishment, it makes extra sense to market your entire operation. The theatre was bought as soon as earlier than within the years after Bernie Sahlins, Howard Alk and Paul Sills launched the comedy theatre in 61 years in the past.
The theatre has a number of arms past its mainstage theatres in Chicago and Toronto, together with a long-standing comedy coaching college, a movie college and a company division that has maintained a lot of its income by providing on-line coaching and training to purchasers.
Second Metropolis was an early coaching floor for Saturday Evening Stay gamers, together with John Belushi, Dan Aykroyd, Gilda Radner and Chris Redd, amongst different comedy stars. The corporate produced the SCTV TV collection within the ’70s and ’80s.