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Russell Simmons, who made history with his groundbreaking HBO comedy series Def Comedy Jam, is planning on making people laugh once again with a new comedy series.

The untitled series reunites the partnership of Simmons and Def Jam producer Stan Lathan and also serves as a platform for undiscovered comedians to get their shine.

“Def Comedy Jam made a significant contribution to American pop culture by introducing so many superstars,” Simmons noted.  “Now with Comedy Central as our new partner, we’re poised to present the next generation of star talent.”

The series which is scheduled to air on Comedy Central this summer will be hosted by JB Smoove, of Curb Your Enthusiasm fame and DJ Cassidy will provide music.

Although Russell plans to make people laugh with his new project, some people are upset about the statement that he made yesterday (February 24) in regards to the scandal that surrounds Jay-Z and New York Governor Paterson.

According to an interview with the New York Post, Russell Simmons says that “the deal wasn’t the best deal for the people.”

Simmons said the firm he advises — Penn National Gaming — and not  AEG, should have won the contract to operate 4,500 video-lottery terminals at the faded horse racing facility.

According to Simmons, Penn National’s bid was far superior to that of AEG, whose partners include powerhouse minister Rev. Floyd Flake.

They offered the most money to the state, by $100 million, up front. They can pay the fastest because they have the money in the bank.”

Simmons told The Post yesterday he wasn’t personally “knocking” either Jay-Z or Flake.

“Jay-Z is a great guy.  I don’t think he’s sweating it any more than I am,” he said.

Although Rev Flake is not upset about the loss, a source with ties to a failed bidder said the selection process “smacked of favoritism” toward AEG. Other bidders described chaotic, secretive dealings and said state officials seemed to be “making the process up as they went along.”