Funny Or Die Acquired by Designer and Activist Henry R. Muñoz III

Funny Or Die has a new owner: Henry R. Muñoz III, a prominent business leader, architect, philanthropist and Democratic fundraiser, has acquired the 14-year-old comedy website and production company.

Financial terms of the deal aren’t being disclosed. Muñoz is now the sole owner and chairman of L.A.-based Funny Or Die, whose co-founders include Will Ferrell, Adam McKay and Judd Apatow. The acquisition includes the Funny Or Die brand, the Funny Or Die content library, its original production slate, and Funny Or Die’s social media assets with more than 40 million followers.

Muñoz purchased Funny Or Die from the company’s former stakeholders, which included AMC Networks, WarnerMedia’s Turner and Sequoia Capital. With the sale, Ferrell will continue to collaborate creatively with Funny Or Die, serving as an adviser.