The Heineken UK brand has appointed Naked Communications to create the sponsorship. Media agency Starcom MediaVest brokered the deal with the broadcaster.
The lager brand will sponsor more than 100 hours of comedy on C4 from the end of the month, as well as a Film 4 comedy season in June.
In May 2009, mobile operator that ran until the end of the year, taking over from beer brand Grolsch.
Mark Given, brands director at Heineken UK, said: "A new advertising campaign and the creation of an exciting, through-the-line sponsorship property will differentiate Foster's from competitor brands and increase its relevance among its core target."
He added: "Humour has been enshrined in the DNA of the brand since Foster's was memorably introduced to UK drinkers by Aussie comedian Paul Hogan, and we know comedy plays an important role in the social lives of our core consumers."
Last month, following a pitch against Fallon and the then incumbent, M&C Saatchi.
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