National Lampoon Sold to PalmStar Media in Landmark $12 Million Deal

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National Lampoon has seen better days. The company, which at one point was producing cult-classic films like Animal House and Vacation and catapulting the careers of legends like Chevy Chase and Harold Ramis, hasn’t been profitable or put out a quality product in over a decade. That fortune may be poised to change, however, as Deadline has just revealed that National Lampoon has been sold outright to PalmStar Media. The landmark deal, which came in at just under $12 million, is an absolute fresh start; everyone previously involved with the company is now gone, and new co-CEO’s Raj B. Singh and Kevin Frakes have control over all of the company’s intellectual property, including Animal House and all of the old-school magazine and radio content from the company’s heyday.

Speaking to Deadline, Singh and Frakes both emphasized that they thought the $12 million deal was a total steal, and that they considered the company’s potential value to be much higher. While National Lampoon has been counted out by many for years, having been relegated to straight-to-DVD releases and less-than-quality content, the duo viewed the company “as a pristine asset that had been held hostage.” Singh and Frakes believe that National Lampoon can once again be a premiere comedy outlet, and as such, are looking to move away from remakes and rehashes of the same old stories in favor of new content. “The most valuable asset is the trademark, the name. We get a clean start and a fresh balance sheet,” said Singh.

Singh and Frakes told Deadline that the deal has been in the works since last October, and that their team at PalmStar Media has been “quietly operational for about six months,” and have “started toward putting together big quality movies with strong talent.” To that end, the company’s new owners are hoping to return National Lampoon to its former glory, not just appealing to a nostalgic older generation, but to a younger audience as well. “We want the community to know we’re trying to restore National Lampoon as a comedy institution, a feeder for great talent,” said Frakes. That means proving to fans and new comedic talent alike that National Lampoon is serious about providing quality products once again.

“We are investing heavily in human capital, in comedy writers/producers and we are giving them the resources they need,” Frakes told Deadline. “That was what Lampoon was, a group of funny writers and actors. That will be a big part of our business.”

The full interview is an interesting look at what is a landmark move in the comedy world, and gives some great insight into how Frakes and Singh view National Lampoon’s potential and why they think they “got the diamond,” so be sure to check out the full story over at Deadline.

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Bill Tressler

Bill is a writer and comedy enthusiast from New York. An avid gamer and podcast fan, he strives to always toe the line between charming irreverence and grating honesty.
Bill Tressler
Bill Tressler
Bill is a writer and comedy enthusiast from New York. An avid gamer and podcast fan, he strives to always toe the line between charming irreverence and grating honesty.