Here's a story from ICv2.com about IDW taking some steps to deal with their downward-spiraling situation. (They lost $36 MILLION last year.)
It's likely it's for sale, although it's possible they're looking for a deep-pocket partner.
I haven't been following their situation as closely as I should have apparently. I know in recent years they've expanded to be a TV/movie production company, and in the last couple of years they've had a revolving CEO. They hired Chris Ryall back as EIC, which may or may not be connected.
Anybody have any facts or speculation to add?
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I really, really, REALLY hope this company manages to stay afloat.
IDW publishes some of my favorite collections.
I remember when I first heard how much money they had lost, I was shocked that they could still remain in business. That is just a ton of money for a mid-tier publisher I think.
I figure since most of their monthly output is from licensed products, that their margins are smaller.
I do hope for their survival though. Like Jeff said they put out some pretty impressive collections (that I can't always afford), and I give them major props for bringing back Larry Hama to continue his G.I. Joe run. I've also enjoyed the little bit of Transformers I've read.
Doesn't look like it's getting any better at IDW. Here's a story from ICv2.com:
IDW Publishing suffered a decline in sales and an increase in losses vs. the year-ago period in its fiscal Q2 ended April 30, according to the company’s announcement, filings, and conference call. Sales were down 15% for the quarter to $3.74 million. Reasons cited included declines in direct market and game sales, partially offset by a decline in book market returns and increases in specialty and digital sales.
Direct market declines of comic sales were attributed to market weakness. The decline in game sales of $452,000 vs. the year-ago period was attributed to the release of The Legend of Korra game in Q2 2018 with no comparable title in this year’s quarter.
Operating losses from the Publishing division were $1.63 million, an earnings decline from a $1.39 million loss in the year-ago period.
The company is promising better results going forward, with what it says is a stronger release schedule for the second half of its fiscal year (May-October).
There were also some interesting comments in the conference call about publishing plans. First, parent IDW Media Holdings CEO and largest shareholder Howard Jonas described the type of comics the division is charged with producing. “We are focused on stories that appeal to the vast majority of Americans, and audiences worldwide for that matter, who want redemptive stories,” Jonas said, “stories where good triumphs over evil, right defeats wrong, where strong families are at the core of the narrative, and where hard work, persistence, and industriousness are rewarded.”
IDW Media Holdings CFO Ezra Rosensaft spoke of operational changes at IDW Publishing. “The IDW Publishing team is making operational changes to focus more tightly on market opportunities and higher margin offerings, including controlled franchises suited for development by IDW Entertainment,” Rosensaft said.
IDW Media Holdings’ other two divisions, IDW Entertainment and CTM, also generated higher losses for the quarter, although CTM actually eked out a small sales increase. Overall losses for the company were $3.75 million on revenues of $7.81 million.
IDW Entertainment has a lot of programming in the pipe, and expects to deliver October Faction and V-Wars in Q4, and to deliver Locke & Key to Netflix in the first half of its next fiscal year.
The company also announced positive news on its longest-running show this week, revealing that it will begin production on Season 4 of Wynonna Earp. Production appeared to have been delayed by financing issues earlier this year (see “’Wynonna Earp’ Money Problems”). IDW closed on its $23 million raise this spring, which improved its balance sheet and available capital dramatically (see “Former Archie Exec, Archaia Investor, Joins IDW Board”).