Foreign Tuffett Posted April 10, 2019 Share Posted April 10, 2019 Looks like "Wynonna Earp" is definitely coming back for season 4: "Wynonna Earp: Opening of the writers’ room in the second quarter of fiscal 2019 and pre-production work associated with Season 4, which is currently anticipated to air on the SyFy channel in 2019/2020." Link to comment Share on other sites More sharing options...
Deepdive Posted April 21, 2019 Share Posted April 21, 2019 How do you figure? Stock is down over 50 pct? And has three big shows coming up and JPM was willing to take the mandate to sell.. IM surprised not up... Did you buy more? Link to comment Share on other sites More sharing options...
whatdadil9 Posted April 21, 2019 Author Share Posted April 21, 2019 If you subscribed to the rights offering arent you implicitly buying more? I think the fact Howard is CEO and JPM took the mandate are both wildly bullish...JPM time is valuable/money. Why would they take this mandate for a fishing expedition? Content is super valuable and only getting more valuable... See Hulu , Disney +, Amazon, etc. Link to comment Share on other sites More sharing options...
whatdadil9 Posted May 20, 2019 Author Share Posted May 20, 2019 Presenting at LD micro.. .seems promising. There is a webcast... https://finance.yahoo.com/news/idw-media-present-9th-annual-162500122.html Also, another big comic book deal...its valuable... https://variety.com/2019/film/global/steven-paul-buys-atlas-comics-paramount-production-deal-1203216889/ Not sure the angle to sell here.. Down from 50.00 and strategic value of content never been higher.. Link to comment Share on other sites More sharing options...
Foreign Tuffett Posted November 15, 2019 Share Posted November 15, 2019 Stock has fallen from $16 to $7.35 in the past month (Oct 15th to Nov 15th) on no news that I can find. Maybe a forced seller? Based on the most recent quarterly report, the IDW Entertainment ("IDWE") segment should have booked some very material revenues in Q4 FY 2019 (ended 10/31): "IDWE licensed the worldwide (excluding Canada) SVOD rights to two live-action television series, October Faction and V-Wars to Netflix. These series commenced production in fiscal year 2018 and have a projected delivery in the fourth quarter of the current fiscal year. License fees for October Faction and V-Wars are expected to account for IDWE’s primary revenue in fiscal year 2019." Link to comment Share on other sites More sharing options...
KJP Posted November 15, 2019 Share Posted November 15, 2019 Stock has fallen from $16 to $7.35 in the past month (Oct 15th to Nov 15th) on no news that I can find. Maybe a forced seller? Based on the most recent quarterly report, the IDW Entertainment ("IDWE") segment should have booked some very material revenues in Q4 FY 2019 (ended 10/31): "IDWE licensed the worldwide (excluding Canada) SVOD rights to two live-action television series, October Faction and V-Wars to Netflix. These series commenced production in fiscal year 2018 and have a projected delivery in the fourth quarter of the current fiscal year. License fees for October Faction and V-Wars are expected to account for IDWE’s primary revenue in fiscal year 2019." Yes, revenues should be significant, but it's unclear what the profit margins will be. I expect not good considering that they're fundamentally changing how they approach the Entertainment segment and going to a much more capital-light (and lower upside) model. The other segments (CTM and publishing) don't appear to be doing well either. I have not been able to put a ballpark value on the business. On the other hand, Jonas has taken the reins again, the IP should be valuable, and regardless of the profit margins on the Q4 deliveries, they should allow the company to substantially deleverage. The first season of another show, Locke & Key, is scheduled for delivery in Q1 2020. So the massive inventory build should turn into cash. Link to comment Share on other sites More sharing options...
netnet Posted November 18, 2019 Share Posted November 18, 2019 Two questions. i would guess no one knows what is driving the drop, but it is a question :-\ I have not really studied the Howard Jonas's whole career, but I have read that long term the returns have been phenomenal for outside shareholders (north of 30% per), So, has anyone lost money in any of his deals? (In this case the charts do lie, you have to look at all the dividends and spinoffs over the years.) There seems to be a really high variance, i.e. what the f*&^k is this name worth. Is this really the best Jonas company to buy? Link to comment Share on other sites More sharing options...
KJP Posted November 18, 2019 Share Posted November 18, 2019 Two questions. i would guess no one knows what is driving the drop, but it is a question :-\ I have not really studied the Howard Jonas's whole career, but I have read that long term the returns have been phenomenal for outside shareholders (north of 30% per), So, has anyone lost money in any of his deals? (In this case the charts do lie, you have to look at all the dividends and spinoffs over the years.) There seems to be a really high variance, i.e. what the f*&^k is this name worth. Is this really the best Jonas company to buy? I think it's very hard (impossible?) to estimate the value of this company. Despite some acquisitions, CTM revenue is the same as it was five years ago, while costs are up. The publishing segment (which includes games) has seen four years of revenue declines. Meanwhile the Entertainment division booked a massive loss in 2018 from cost overruns and, to me, the Q3 2019 call suggested more losses were coming on the shows produced under the legacy, capital-intensive structure. All that being said, I've been buying the last few days because I think the balance sheet will be cleaned up over the next few quarters as inventory converts to cash, the new Entertainment segment model shouldn't bleed cash, and most importantly of all, I believe the assets and valuable and Jonas will get that value recognized. Link to comment Share on other sites More sharing options...
Foreign Tuffett Posted November 19, 2019 Share Posted November 19, 2019 Two questions. i would guess no one knows what is driving the drop, but it is a question :-\ I have not really studied the Howard Jonas's whole career, but I have read that long term the returns have been phenomenal for outside shareholders (north of 30% per), So, has anyone lost money in any of his deals? (In this case the charts do lie, you have to look at all the dividends and spinoffs over the years.) There seems to be a really high variance, i.e. what the f*&^k is this name worth. Is this really the best Jonas company to buy? I think it's very hard (impossible?) to estimate the value of this company. Despite some acquisitions, CTM revenue is the same as it was five years ago, while costs are up. The publishing segment (which includes games) has seen four years of revenue declines. Meanwhile the Entertainment division booked a massive loss in 2018 from cost overruns and, to me, the Q3 2019 call suggested more losses were coming on the shows produced under the legacy, capital-intensive structure. All that being said, I've been buying the last few days because I think the balance sheet will be cleaned up over the next few quarters as inventory converts to cash, the new Entertainment segment model shouldn't bleed cash, and most importantly of all, I believe the assets and valuable and Jonas will get that value recognized. I have been buying as well. I agree that this isn't the type of company that investors can just slap a multiple on. The bull case is all about the value of the owner or co-owned IP, and there is no way to measure its value with any degree of precision. I think people got a little too excited about the IP a few years ago, but I do think it's valuable in the context of (a) the company's current nano market cap and (b) the current demand for scripted content. IIRC IDW Publishing started to struggle after Ted Adams left early last year. Hopefully it can get back to at least breakeven in the relatively near future. Jonas is a proven deal maker with a history of unlocking the value of media and telecom assets (Net2Phone, IDT Entertainment, Straight Path Communications). His taking on the CEO role earlier this year means that he is engaged and focused on driving a good outcome. Link to comment Share on other sites More sharing options...
BG2008 Posted November 19, 2019 Share Posted November 19, 2019 Two questions. i would guess no one knows what is driving the drop, but it is a question :-\ I have not really studied the Howard Jonas's whole career, but I have read that long term the returns have been phenomenal for outside shareholders (north of 30% per), So, has anyone lost money in any of his deals? (In this case the charts do lie, you have to look at all the dividends and spinoffs over the years.) There seems to be a really high variance, i.e. what the f*&^k is this name worth. Is this really the best Jonas company to buy? I think it's very hard (impossible?) to estimate the value of this company. Despite some acquisitions, CTM revenue is the same as it was five years ago, while costs are up. The publishing segment (which includes games) has seen four years of revenue declines. Meanwhile the Entertainment division booked a massive loss in 2018 from cost overruns and, to me, the Q3 2019 call suggested more losses were coming on the shows produced under the legacy, capital-intensive structure. All that being said, I've been buying the last few days because I think the balance sheet will be cleaned up over the next few quarters as inventory converts to cash, the new Entertainment segment model shouldn't bleed cash, and most importantly of all, I believe the assets and valuable and Jonas will get that value recognized. I have been buying as well. I agree that this isn't the type of company that investors can just slap a multiple on. The bull case is all about the value of the owner or co-owned IP, and there is no way to measure its value with any degree of precision. I think people got a little too excited about the IP a few years ago, but I do think it's valuable in the context of (a) the company's current nano market cap and (b) the current demand for scripted content. IIRC IDW Publishing started to struggle after Ted Adams left early last year. Hopefully it can get back to at least breakeven in the relatively near future. Jonas is a proven deal maker with a history of unlocking the value of media and telecom assets (Net2Phone, IDT Entertainment, Straight Path Communications). His taking on the CEO role earlier this year means that he is engaged and focused on driving a good outcome. Part of the reason why I didn't want to own EVI or IDW is that ADW owns so much of these illiquid companies. Great track record so far (launched post 2009). I don't think I will be smarter than ADW in a position that they own. Everything is fine if the thesis works out. But if it doesn't, ADW will definitely know to get out before me. Then I will be sitting behind their 5-10% position. Not saying the price from $50 to here is due to ADW selling, but this is a very distinct possibility. Link to comment Share on other sites More sharing options...
Foreign Tuffett Posted November 19, 2019 Share Posted November 19, 2019 Two questions. i would guess no one knows what is driving the drop, but it is a question :-\ I have not really studied the Howard Jonas's whole career, but I have read that long term the returns have been phenomenal for outside shareholders (north of 30% per), So, has anyone lost money in any of his deals? (In this case the charts do lie, you have to look at all the dividends and spinoffs over the years.) There seems to be a really high variance, i.e. what the f*&^k is this name worth. Is this really the best Jonas company to buy? I think it's very hard (impossible?) to estimate the value of this company. Despite some acquisitions, CTM revenue is the same as it was five years ago, while costs are up. The publishing segment (which includes games) has seen four years of revenue declines. Meanwhile the Entertainment division booked a massive loss in 2018 from cost overruns and, to me, the Q3 2019 call suggested more losses were coming on the shows produced under the legacy, capital-intensive structure. All that being said, I've been buying the last few days because I think the balance sheet will be cleaned up over the next few quarters as inventory converts to cash, the new Entertainment segment model shouldn't bleed cash, and most importantly of all, I believe the assets and valuable and Jonas will get that value recognized. I have been buying as well. I agree that this isn't the type of company that investors can just slap a multiple on. The bull case is all about the value of the owner or co-owned IP, and there is no way to measure its value with any degree of precision. I think people got a little too excited about the IP a few years ago, but I do think it's valuable in the context of (a) the company's current nano market cap and (b) the current demand for scripted content. IIRC IDW Publishing started to struggle after Ted Adams left early last year. Hopefully it can get back to at least breakeven in the relatively near future. Jonas is a proven deal maker with a history of unlocking the value of media and telecom assets (Net2Phone, IDT Entertainment, Straight Path Communications). His taking on the CEO role earlier this year means that he is engaged and focused on driving a good outcome. Part of the reason why I didn't want to own EVI or IDW is that ADW owns so much of these illiquid companies. Great track record so far (launched post 2009). I don't think I will be smarter than ADW in a position that they own. Everything is fine if the thesis works out. But if it doesn't, ADW will definitely know to get out before me. Then I will be sitting behind their 5-10% position. Not saying the price from $50 to here is due to ADW selling, but this is a very distinct possibility. No, we know ADW owned "over 9%" over the company when it published an open letter to the board in March. The stock price hasn't approached $50 since early 2018. https://www.prnewswire.com/news-releases/adw-capital-partners-lp-seeks-sale-of-idw-media-holdings-inc-to-maximize-value-of-intellectual-property-300806734.html I have no idea who will sell/buy/hold shares in the future. I think the evidence suggests that someone has been selling aggressively over the last ~month in the absence of material news. To be concerned about a significant holder selling in the future when, insofar as anyone can tell, a significant holder has already been selling....maybe a little bit of recency bias in that line of thinking? More broadly, I don't know the probability that this gets acquired (maybe 50/50?), but the magnitude of the upside from the current ~$55 million market cap could be huge if it does. Link to comment Share on other sites More sharing options...
BG2008 Posted November 19, 2019 Share Posted November 19, 2019 Two questions. i would guess no one knows what is driving the drop, but it is a question :-\ I have not really studied the Howard Jonas's whole career, but I have read that long term the returns have been phenomenal for outside shareholders (north of 30% per), So, has anyone lost money in any of his deals? (In this case the charts do lie, you have to look at all the dividends and spinoffs over the years.) There seems to be a really high variance, i.e. what the f*&^k is this name worth. Is this really the best Jonas company to buy? I think it's very hard (impossible?) to estimate the value of this company. Despite some acquisitions, CTM revenue is the same as it was five years ago, while costs are up. The publishing segment (which includes games) has seen four years of revenue declines. Meanwhile the Entertainment division booked a massive loss in 2018 from cost overruns and, to me, the Q3 2019 call suggested more losses were coming on the shows produced under the legacy, capital-intensive structure. All that being said, I've been buying the last few days because I think the balance sheet will be cleaned up over the next few quarters as inventory converts to cash, the new Entertainment segment model shouldn't bleed cash, and most importantly of all, I believe the assets and valuable and Jonas will get that value recognized. I have been buying as well. I agree that this isn't the type of company that investors can just slap a multiple on. The bull case is all about the value of the owner or co-owned IP, and there is no way to measure its value with any degree of precision. I think people got a little too excited about the IP a few years ago, but I do think it's valuable in the context of (a) the company's current nano market cap and (b) the current demand for scripted content. IIRC IDW Publishing started to struggle after Ted Adams left early last year. Hopefully it can get back to at least breakeven in the relatively near future. Jonas is a proven deal maker with a history of unlocking the value of media and telecom assets (Net2Phone, IDT Entertainment, Straight Path Communications). His taking on the CEO role earlier this year means that he is engaged and focused on driving a good outcome. Part of the reason why I didn't want to own EVI or IDW is that ADW owns so much of these illiquid companies. Great track record so far (launched post 2009). I don't think I will be smarter than ADW in a position that they own. Everything is fine if the thesis works out. But if it doesn't, ADW will definitely know to get out before me. Then I will be sitting behind their 5-10% position. Not saying the price from $50 to here is due to ADW selling, but this is a very distinct possibility. No, we know ADW owned "over 9%" over the company when it published an open letter to the board in March. The stock price hasn't approached $50 since early 2018. https://www.prnewswire.com/news-releases/adw-capital-partners-lp-seeks-sale-of-idw-media-holdings-inc-to-maximize-value-of-intellectual-property-300806734.html I have no idea who will sell/buy/hold shares in the future. I think the evidence suggests that someone has been selling aggressively over the last ~month in the absence of material news. To be concerned about a significant holder selling in the future when, insofar as anyone can tell, a significant holder has already been selling....maybe a little bit of recency bias in that line of thinking? More broadly, I don't know the probability that this gets acquired (maybe 50/50?), but the magnitude of the upside from the current ~$55 million market cap could be huge if it does. My comment was less about recent developments from $50 to $7. It is obvious that whoever is selling has been selling. My comment is that I generally don't want to be in the same name as ADW after a 5-10x run up which IDW did experience. Because when ADW need to get out, the price will be much lower before I can recognize that. I agree that at $55mm market cap, there is a lot of optionality from here. Link to comment Share on other sites More sharing options...
KJP Posted November 19, 2019 Share Posted November 19, 2019 Two questions. i would guess no one knows what is driving the drop, but it is a question :-\ I have not really studied the Howard Jonas's whole career, but I have read that long term the returns have been phenomenal for outside shareholders (north of 30% per), So, has anyone lost money in any of his deals? (In this case the charts do lie, you have to look at all the dividends and spinoffs over the years.) There seems to be a really high variance, i.e. what the f*&^k is this name worth. Is this really the best Jonas company to buy? I think it's very hard (impossible?) to estimate the value of this company. Despite some acquisitions, CTM revenue is the same as it was five years ago, while costs are up. The publishing segment (which includes games) has seen four years of revenue declines. Meanwhile the Entertainment division booked a massive loss in 2018 from cost overruns and, to me, the Q3 2019 call suggested more losses were coming on the shows produced under the legacy, capital-intensive structure. All that being said, I've been buying the last few days because I think the balance sheet will be cleaned up over the next few quarters as inventory converts to cash, the new Entertainment segment model shouldn't bleed cash, and most importantly of all, I believe the assets and valuable and Jonas will get that value recognized. I have been buying as well. I agree that this isn't the type of company that investors can just slap a multiple on. The bull case is all about the value of the owner or co-owned IP, and there is no way to measure its value with any degree of precision. I think people got a little too excited about the IP a few years ago, but I do think it's valuable in the context of (a) the company's current nano market cap and (b) the current demand for scripted content. IIRC IDW Publishing started to struggle after Ted Adams left early last year. Hopefully it can get back to at least breakeven in the relatively near future. Jonas is a proven deal maker with a history of unlocking the value of media and telecom assets (Net2Phone, IDT Entertainment, Straight Path Communications). His taking on the CEO role earlier this year means that he is engaged and focused on driving a good outcome. Part of the reason why I didn't want to own EVI or IDW is that ADW owns so much of these illiquid companies. Great track record so far (launched post 2009). I don't think I will be smarter than ADW in a position that they own. Everything is fine if the thesis works out. But if it doesn't, ADW will definitely know to get out before me. Then I will be sitting behind their 5-10% position. Not saying the price from $50 to here is due to ADW selling, but this is a very distinct possibility. No, we know ADW owned "over 9%" over the company when it published an open letter to the board in March. The stock price hasn't approached $50 since early 2018. https://www.prnewswire.com/news-releases/adw-capital-partners-lp-seeks-sale-of-idw-media-holdings-inc-to-maximize-value-of-intellectual-property-300806734.html I have no idea who will sell/buy/hold shares in the future. I think the evidence suggests that someone has been selling aggressively over the last ~month in the absence of material news. To be concerned about a significant holder selling in the future when, insofar as anyone can tell, a significant holder has already been selling....maybe a little bit of recency bias in that line of thinking? More broadly, I don't know the probability that this gets acquired (maybe 50/50?), but the magnitude of the upside from the current ~$55 million market cap could be huge if it does. My comment was less about recent developments from $50 to $7. It is obvious that whoever is selling has been selling. My comment is that I generally don't want to be in the same name as ADW after a 5-10x run up which IDW did experience. Because when ADW need to get out, the price will be much lower before I can recognize that. I agree that at $55mm market cap, there is a lot of optionality from here. No disagreement that you're going to be behind ADW. For that matter, you're also behind Raging Capital, which has (or perhaps had) an even bigger share of the company than ADW. (See p. 11 here: https://backend.otcmarkets.com/otcapi/company/financial-report/230276/content) I'm not a big fan of investing just because other recognizable have done so. (And Raging Capital in particular doesn't mean much to me, because the last time a big position of theirs overlapped with me was Rentech and that turned out ... poorly.) But for those who like that sort of thing, some interesting names participated in the secondary offering earlier this year at prices that are more than double the current price. See the Appendix at the end of the link above. Link to comment Share on other sites More sharing options...
BG2008 Posted November 19, 2019 Share Posted November 19, 2019 Two questions. i would guess no one knows what is driving the drop, but it is a question :-\ I have not really studied the Howard Jonas's whole career, but I have read that long term the returns have been phenomenal for outside shareholders (north of 30% per), So, has anyone lost money in any of his deals? (In this case the charts do lie, you have to look at all the dividends and spinoffs over the years.) There seems to be a really high variance, i.e. what the f*&^k is this name worth. Is this really the best Jonas company to buy? I think it's very hard (impossible?) to estimate the value of this company. Despite some acquisitions, CTM revenue is the same as it was five years ago, while costs are up. The publishing segment (which includes games) has seen four years of revenue declines. Meanwhile the Entertainment division booked a massive loss in 2018 from cost overruns and, to me, the Q3 2019 call suggested more losses were coming on the shows produced under the legacy, capital-intensive structure. All that being said, I've been buying the last few days because I think the balance sheet will be cleaned up over the next few quarters as inventory converts to cash, the new Entertainment segment model shouldn't bleed cash, and most importantly of all, I believe the assets and valuable and Jonas will get that value recognized. I have been buying as well. I agree that this isn't the type of company that investors can just slap a multiple on. The bull case is all about the value of the owner or co-owned IP, and there is no way to measure its value with any degree of precision. I think people got a little too excited about the IP a few years ago, but I do think it's valuable in the context of (a) the company's current nano market cap and (b) the current demand for scripted content. IIRC IDW Publishing started to struggle after Ted Adams left early last year. Hopefully it can get back to at least breakeven in the relatively near future. Jonas is a proven deal maker with a history of unlocking the value of media and telecom assets (Net2Phone, IDT Entertainment, Straight Path Communications). His taking on the CEO role earlier this year means that he is engaged and focused on driving a good outcome. Part of the reason why I didn't want to own EVI or IDW is that ADW owns so much of these illiquid companies. Great track record so far (launched post 2009). I don't think I will be smarter than ADW in a position that they own. Everything is fine if the thesis works out. But if it doesn't, ADW will definitely know to get out before me. Then I will be sitting behind their 5-10% position. Not saying the price from $50 to here is due to ADW selling, but this is a very distinct possibility. No, we know ADW owned "over 9%" over the company when it published an open letter to the board in March. The stock price hasn't approached $50 since early 2018. https://www.prnewswire.com/news-releases/adw-capital-partners-lp-seeks-sale-of-idw-media-holdings-inc-to-maximize-value-of-intellectual-property-300806734.html I have no idea who will sell/buy/hold shares in the future. I think the evidence suggests that someone has been selling aggressively over the last ~month in the absence of material news. To be concerned about a significant holder selling in the future when, insofar as anyone can tell, a significant holder has already been selling....maybe a little bit of recency bias in that line of thinking? More broadly, I don't know the probability that this gets acquired (maybe 50/50?), but the magnitude of the upside from the current ~$55 million market cap could be huge if it does. My comment was less about recent developments from $50 to $7. It is obvious that whoever is selling has been selling. My comment is that I generally don't want to be in the same name as ADW after a 5-10x run up which IDW did experience. Because when ADW need to get out, the price will be much lower before I can recognize that. I agree that at $55mm market cap, there is a lot of optionality from here. No disagreement that you're going to be behind ADW. For that matter, you're also behind Raging Capital, which has (or perhaps had) an even bigger share of the company than ADW. (See p. 11 here: https://backend.otcmarkets.com/otcapi/company/financial-report/230276/content) I'm not a big fan of investing just because other recognizable have done so. (And Raging Capital in particular doesn't mean much to me, because the last time a big position of theirs overlapped with me was Rentech and that turned out ... poorly.) But for those who like that sort of thing, some interesting names participated in the secondary offering earlier this year at prices that are more than double the current price. See the Appendix at the end of the link above. Not a big fan of following other managers except for Packer in Cable, Telco, investments. He really gets it especially when there is leverage involved. Link to comment Share on other sites More sharing options...
Foreign Tuffett Posted November 20, 2019 Share Posted November 20, 2019 "V Wars" trailer is out Link to comment Share on other sites More sharing options...
Foreign Tuffett Posted December 9, 2019 Share Posted December 9, 2019 "V Wars" show looks god-awful. Warning, link features some NSFW language. https://twitter.com/IDWEntertain/status/1204081191030120448 Link to comment Share on other sites More sharing options...
KJP Posted July 17, 2020 Share Posted July 17, 2020 And the hits keep coming .... 14 months ago Adam Wyden estimated the CTM Media business was worth $30 - $40 million: https://markets.businessinsider.com/news/stocks/adw-capital-partners-l-p-seeks-sale-of-idw-media-holdings-inc-to-maximize-value-of-intellectual-property-1028004823?op=1# Today, IDWM announced a deal (subject to a majority of the minority vote) to sell CTM Media to CEO/Chairman Howard Jonas for $3.75 million in debt forgiveness and an undefined contingent earnout: https://www.accesswire.com/597821/IDW-Announces-Sale-of-CTM-Media-Group-its-Tourism-Focused-Subsidiary [Jonas is also converted an additional $1.25 million in debt into shares at ~$4/share.] Of course Wyden may well have been too optimistic, and a tourist brochure business certainly isn't the best business to be in right now. But this really has been a disaster for years. Link to comment Share on other sites More sharing options...
Foreign Tuffett Posted July 17, 2020 Share Posted July 17, 2020 And the hits keep coming .... 14 months ago Adam Wyden estimated the CTM Media business was worth $30 - $40 million: https://markets.businessinsider.com/news/stocks/adw-capital-partners-l-p-seeks-sale-of-idw-media-holdings-inc-to-maximize-value-of-intellectual-property-1028004823?op=1# Today, IDWM announced a deal (subject to a majority of the minority vote) to sell CTM Media to CEO/Chairman Howard Jonas for $3.75 million in debt forgiveness and an undefined contingent earnout: https://www.accesswire.com/597821/IDW-Announces-Sale-of-CTM-Media-Group-its-Tourism-Focused-Subsidiary [Jonas is also converted an additional $1.25 million in debt into shares at ~$4/share.] Of course Wyden may well have been too optimistic, and a tourist brochure business certainly isn't the best business to be in right now. But this really has been a disaster for years. Obviously COVID has impaired CTM's value, but it was never worth $30 - $40 million to begin with. Link to comment Share on other sites More sharing options...
smathew Posted September 27, 2020 Share Posted September 27, 2020 Presenting at LD micro.. .seems promising. There is a webcast... https://finance.yahoo.com/news/idw-media-present-9th-annual-162500122.html Also, another big comic book deal...its valuable... https://variety.com/2019/film/global/steven-paul-buys-atlas-comics-paramount-production-deal-1203216889/ Not sure the angle to sell here.. Down from 50.00 and strategic value of content never been higher.. Any insight about current state of IDWM ? Lot management churn and not much visibility about new series for next year though they are are claiming that they will 4 new shows per year . Link to comment Share on other sites More sharing options...
smathew Posted October 16, 2020 Share Posted October 16, 2020 Filed S1 https://www.otcmarkets.com/filing/conv_pdf?id=14444985&guid=cv-eUKoIOwP8t3h Link to comment Share on other sites More sharing options...
Jurgis Posted November 17, 2020 Share Posted November 17, 2020 IDWM claims that going forward they gonna be asset/expenses lite, pretty much licensing shows to be made by others and collecting "royalties" rather than putting their own money into productions. Expecting 2-5M EBITDA per show per year. Hoping to get to 10 shows+. New CEO is past CFO so there is a question of why the heck he went with the "not-so-expense-lite" model in the past. In any case now he has seen the light. ::) FWIW. No position. Link to comment Share on other sites More sharing options...
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