IDW For Sale? J.P. MORGAN Hired To Review Company & 'Maximize Stockholder Value'

IDW logo
Credit: IDW Entertainment

IDW Media Holdings, Inc. has hired J.P. Morgan to help in a company review for a possible sale (or other alternatives) to "maximize stockholder value and realize the full potential of its vast content library and pipeline." IDW is the parent company of IDW Publishing.

"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 company Chairman/CEO Howard Jonas.

"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," added Jonas. "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."

This comes a few weeks after a representative from ADW Capital Partners, who owns roughly a 9% stake in IDW, released a letter calling for the company to be acquired. Adam Wyden said the recent acquisitions of Valiant Entertainment (by DMG) and Millarworld (by Netflix) set a precedent for IDW's market value, especially given this company is larger - as a comics company - than those other two examples.

"[IDW] is in an enviable position as the fourth largest comic book publisher by dollar share," Wyden said. "We are consistently amazed by the quality of the Company's leadership and its ability to source, incubate, and add to its growing library of content/intellectual property."

According to Wyden, IDW owns or co-owns over 200 franchises.

IDW's CEO/Chairman Howard Jonas has said that this review process won't necessarily result in any transaction.

"There can be no assurance that our review process will result in any transaction," said Jonas. "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."

In recent years, both BOOM! Studios and Dark Horse Comics have sold portions of its company to outside investors to raise funds for projects.

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