Hartbeat: Kevin Hart Launches Media Company With $100 Million Backing

Hartbeat: Kevin Hart Launches Media Company With $100 Million Backing

  • Hartbeat, a global multi-platform media company owned by Kevin Hart has secured $100 million in funding from Abry Partners.
  • The investment qualifies Abry Partners to own a 15% stake in the media company, which is currently valued at $650 million.
  • Following the development, Kevin Hart will step aside as the CEO of the company but he stays on as the chairman.

Stand-up comedian, Kevin Hart, launched a new media company called Hartbeat on Tuesday. The company was kickstarted with a $100 million investment from a private equity firm, Abry Partners.

With the investment, Abry took a minority 15% stake in the media company. Abry Partners is known for its investments in the media, communication, and information services space.

Kevin Hart, who has featured in movies such as “Ride Along” and “Central Intelligence”, will serve as the chairman of the new venture.

It should be noted that Hartbeat was created out of a merger between Hart’s two entertainment businesses, Laugh Out Loud and HartBeat Productions.

The company has announced that Thai Randolph, who held senior executive positions at both businesses will serve as the chief executive officer.


Read also: Elon Musk Completes Twitter Takeover in $44 Billion Deal

Hartbeat plans to produce and distribute television and film content focused on “comedic storytelling”. 

A number of buyout firms have dived into the entertainment space in recent months. Just in January, Apollo said it would invest $760 million in Legendary Entertainment, the company behind blockbusters, “Dune” and “Godzilla vs. Kong”.

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