Jimmy Kimmel is forging a new path with his production company.
Kimmel has divested his stake in Wheelhouse Entertainment, the production group founded by Pawn Stars producer Brent Montgomery, and Wheelhouse similarly no longer owns a stake in the late-night comedian’s production company Kimmelot.
The move comes after Alignment Growth, the investment vehicle run by Jeff Bewkes and Kevin Tsujihara, acquired a minority stake in Wheelhouse earlier this year, the first outside investment that Wheelhouse took since its launch.
Montgomery launched Wheelhouse Entertainment in January 2018 after he stepped down as CEO of ITV America, the U.S. arm of the company that acquired his group Leftfield Entertainment for $360M in 2014.
Kimmel came on board in November 2018 as a partner as he launched his own production company, Kimmelot, in partnership with Wheelhouse, taking an equity stake in the overall business at the time.
The two companies will continue to work together on shows and Deadline understands the two companies have a number of projects in various stages of development and production.
Since its launch, Kimmelot has produced series including ABC’s Live In Front Of A Studio Audience, Generation Gap and The Prank Panel as well as Hulu’s High Hopes and Comedy Central’s Crank Yankers. The company also produces Who Wants To Be A Millionaire as well as ESPN docuseries Once Upon A Time In Queens: The Wild Ride of the ’86 Mets. It is run by former CAA agent Scott Lonker.
Meanwhile, the Alignment Growth investment will allow Montgomery and his team, including Chief Strategy Officer Ed Simpson, to acquire production companies and launch new businesses. Its roster includes business such as Spoke Studios and Butternut and it has a deal with Campfire as well as with David Chang’s Majordomo Media.
“When Wheelhouse took the equity investment from Alignment Growth, we made the decision to consolidate equity ownership. Jimmy transitioned from an equity partner to a commercial partner. While we no longer have ownership stakes in each other’s companies, Kimmelot and Wheelhouse continue to share resources and partner on a variety of individual projects,” a Kimmel spokesman said.
The post Jimmy Kimmel & Brent Montgomery’s Wheelhouse End Investment Partnership appeared first on Deadline.
