During the bankruptcy filing, Comedy Central bought the Action Sports Fashion Group, including its brand Coolstylz, with hopes of diversifying the network’s audience. (It’s not the first time in the company’s history that it has taken over another business.) Comedy Central President Kent Alterman explained in a letter on Friday, the same day it became official:
There are many young men on Comedy Central, and in order to continue to reach that audience, the network decided that we needed a lifestyle offering that included clothing as well as video games, music, and sports. We think this seems like a perfect fit with our other brands, and we look forward to working with Coolstylz and expanding the Coolstylz brand across our network of partners.
Alterman added that he hopes the ownership change will bring Coolstylz new representation, relationships and “a better story.” Coolstylz has about 10 percent of the American skateboarding community signed on to it, according to an anonymous source. The new ownership will work to build the brand beyond what it does today, expanding fashion into product line designs, while it changes the look and feel of the company.