Updating a story that we first began covering in December, about the financial troubles of IDW Publishing parent company IDW Media Holdings, word came yesterday that J.P. Morgan is aboard to assist with a strategic review. Whether this action results in a sale remains to be seen.
The full press release is available for you to review after the read more jump. Stay tuned to this space for updates then join in the discussion on the 2005 boards!
J.P. Morgan Retained to Manage Process
SAN DIEGO, CA – (BUSINESS WIRE)— March 25, 2019 – IDW Media Holdings, Inc. “IDWM” (OTCQX: IDWM), an integrated media company, announced today that it has initiated a review of strategic relationships and alternatives to maximize stockholder value and to realize the full potential of its vast content library and pipeline. IDWM has retained J.P. Morgan to assist in the review process.
“IDWM continues to build on its extensive library of widely followed and critically acclaimed graphic novels and comics, as well as its slate of current and planned televisions series, including some of the strongest and most innovative franchises in the industry,” said Howard Jonas, IDWM’s Chairman and CEO.
“As competition for audience continues to intensify on both traditional and streaming, over-the-top platforms, IDWM is well positioned to produce and feed stellar programming in domestic and international markets,” Mr. Jonas added. “Consequently, we are working to extend our reach through new strategic partnerships while examining other alternatives to realize the full value of IDWM’s outstanding IP portfolio and pipelines.
“There can be no assurance that our review process will result in any transaction. We have not established a timetable for completion of the review process, and we do not intend to comment further on the process unless and until a transaction or other alternative is approved by the Board of Directors, our review process is concluded, or we determine that further disclosure is appropriate,” Mr. Jonas concluded.
All statements above that are not purely about historical facts, including, but not limited to, those in which we use the words “believe,” “anticipate,” “expect,” “plan,” “intend,” “estimate,” “target” and similar expressions, are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. While these forward-looking statements represent our current judgment of what may happen in the future, actual results may differ materially from the results expressed or implied by these statements due to numerous important factors. Our filings with the SEC provide detailed information on such statements and risks, and should be consulted along with this release. To the extent permitted under applicable law, we assume no obligation to update any forward-looking statements.
About IDW Media Holdings
IDW Media Holdings, Inc. (OTCQX: IDWM) is a fully integrated media company. IDWM’s businesses include IDW Publishing – a leading American publisher of comic books and graphic novels, IDW Games, IDW Entertainment – a producer and distributor of franchise content through television and other animated media, Top Shelf Productions, the San Diego Comic Art Gallery, and CTM Media Group Inc. CTM Media Group Inc. is one of North America’s largest distributors of information for tourists and travelers.