Kevin Hart’s New Media Company Expands With $100 Million Investment

Kevin Hart launched HARTBEAT on Tuesday, a new media company with a 100 million USD investment from private equity firm Abry Partners.

Abry Partners, which focuses on investments in the media, communication, and information services space, took a minority stake in the company at an undisclosed valuation.

“The creation of HARTBEAT and our capital raise with Abry represent a new era in comedy. This all started out with a mission to keep the world laughing together, and I’m so proud our teams have delivered on that, putting in the hard work to build the most innovative and inclusive comedic storytelling company,” Hart said.

Hart, a stand-up comedian, and Hollywood actor, will be the chairman of HARTBEAT, a combination of Laugh Out Loud and HartBeat Productions.

Thai Randolph, formerly the chief operating officer of Laugh Out Loud and HartBeat Productions, was promoted as chief executive.

Abry Partners’ Nicolas Massard and NBC Universal’s Peacock will join the HARTBEAT board.

HARTBEAT also has a film deal with Netflix, a partnership with SiriusXM, and a deal with Audible and Charlamagne Tha God.

HARTBEAT is the latest private equity to move into Hollywood.

© Fourth Estate® — All Rights Reserved.
This material may not be published, broadcast, rewritten or redistributed.