The Second Metropolis comedy theatre — the place performers together with Eugene Levy, Catherine O’Hara, Invoice Murray, John Sweet, Martin Quick, Steve Carell, Tina Fey and others received their begin — has been put up on the market.
In a press release launched Tuesday, co-owner Andrew Alexander mentioned a sale presents the chance for Second Metropolis to succeed nicely into the long run.
“What we’re looking for is crucial reinvestment within the enterprise that can permit us to proceed to develop in the suitable methods and with the suitable assets whereas remaining an oasis of talking fact to energy and offering very important human connection in an more and more advanced world,” Alexander mentioned within the assertion launched by Los Angeles funding financial institution Houlihan Lokey, which is advising Second Metropolis’s house owners on the sale.
Privately held all through its 61-year historical past, Second Metropolis suspended all its reveals and lessons in early March till additional discover as a result of COVID-19 pandemic. Second Metropolis additionally confronted controversy in June when Alexander stepped down from the coaching and efficiency troupe due to allegations of racism within the company.
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 relatively than attempt to promote about half of the establishment, it makes extra sense to market the whole 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 1959.
The theatre has a number of arms past its mainstage theatres in Chicago and Toronto, together with a long-standing comedy coaching faculty, a movie faculty 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.