HBO invested in Will Ferrell’s comedy website, Funny or Die, reports MediaBuyerPlanner. The site will contribute at least 10 hours of original content to HBO's network.

HBO execs said the short clips will transfer well to television. "This groundbreaking deal brings the innovative spirit of Funny or Die into the television medium," Michael Lombardo, HBO's president, programming group and West Coast operations, stated.

"With HBO's long tradition of great comedy, this partnership makes perfect sense."

Funny or Die launched in 2007. In January it offered a toy shark to the college whose students installed the most Funny or Die Facebook apps.