In a statement published Tuesday, co-owner Andrew Alexander explained a purchase presents the chance to get Second City to succeed well into the near future.
“What we’re looking for is critical re-investment from the industry which will permit us to continue to increase in the ideal approaches and with the ideal resources while staying an oasis of talking truth to power and also supplying vital human link in an increasingly intricate world,” Alexander said in the announcement published by Los Angeles investment bank, Houlihan Lokey, that can be advising Second City’s owners around the sale.
Privately held during its 61-year history, Second City suspended all of its shows and courses from early March until further notice as a result of the COVID-19 pandemic. Second City also faced controversy in June when Alexander resigned in the performance and training troupe because of allegations of racism within the provider.
Second City is co-owned by Alexander and D’Arcy Stuart, even though its president, Steve Johnston, has a small equity share. When he resigned, Alexander stated he was planning to sell his half of this theater. Both decided rather than attempt to sell about half the establishment, it makes more sense to promote the whole operation. The theater has been offered before in the years following Bernie Sahlins, Howard Alk and Paul Sills started the humor theater in 1959.
The theater has a lot of arms outside its mainstage theatres in Chicago and Toronto, such as a longstanding comedy training faculty, a film school, and also a corporate branch that has preserved much of its earnings by providing online education and training to customers.
The business created the”SCTV” TV show from the 1970s and’80s.