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Will Ferrell and Adam McKay’s Funny or Die Sold to Philanthropist-Activist Henry Muñoz

Muñoz will become chairman, Mike Farah will remain CEO

Henry Muñoz, the CEO of Kell Muñoz Architects and the Texas-based design firm Muñoz & Company, has bought Funny or Die, the comedy brand founded by Will Ferrell and Adam McKay. Terms of the deal were not disclosed.

Muñoz, a national leader in design, health care and cultural empowerment who led the effort to create a National Latino Museum on the mall in Washington, D.C., first partnered with Funny or Die last October to produce the CBS special “Essential Heroes: A Momento Latino Event.” The longtime Democrat also served as finance chairman of the Democratic National Committee until 2019.

Muñoz bought Funny or Die from the company’s former stakeholders, a group that included AMC Networks, Turner Entertainment and Sequoia Capital. Muñoz will become the company’s chairman.

Mike Farah will remain as CEO. Co-founder Will Ferrell will continue to be an adviser and collaborate with the brand. Additionally, Michele Rosette, who has been the CFO of Funny or Die since 2016, will remain in her role. Joe Farrell, who oversees Funny or Die’s longform slate, has been promoted to chief creative officer.

“The future of comedy and entertainment is in companies that empower talent and creative forces to make content that reflects the cultural identity of our country at this moment in our history,” Muñoz said in a statement. “Funny Or Die’s own rich history as a place of innovation and as a voice of new generations speaks for itself and our team led by Mike Farah is poised to seize this unique moment. I understand the responsibilities of owning a brand like Funny Or Die and I am excited to work with our team to make sure we have the resources we need to develop funny, original and diverse new content. I also understand the importance of being one of the very few Latinos in a position like this in the entertainment industry and I will do my best to make my community, our industry and our country proud as we move forward.”

LionTree served as financial adviser, and Stubbs Alderton & Markiles, LLP served as legal advisor to Funny or Die.