The channel first launched on October 17, 1997 as The Comedy Network by a consortium of Baton Broadcasting, Shaw Communications, Astral Media [a] and Les Films Rozon.

Through various acquisitions over the years, Shaw, Astral and Les Films Rozon sold their interest in the service to Baton, which became Bell Globemedia in 2001, and renamed CTVglobemedia in 2007.

BCE gained control of The Comedy Network on April 1, 2011, through its takeover of CTVglobemedia, in effective changing the company's name to Bell Media.

Bell argued that the network was at a disadvantage against BiteTV and Teletoon, because Comedy was unable to give its animated acquisitions a larger amount of exposure (such as marathons) due to the restriction.

The CRTC rejected its arguments in response to complaints by the two networks cited and other unions, due to their differing natures of service and because Bell's proposed changes were intended primarily to decrease the amount of Canadian content it airs in favour of more U.S.-originated programming.

The network also produces its own original programming, with several series (such as Puppets Who Kill, Odd Job Jack and Kevin Spencer) developing cult followings and loyal fan-bases.

[12] On July 24, 2019, a representative of Bell Support revealed that Comedy Gold would be shutting down anywhere between August 30 and September 1; it did so on the latter date.