A corporate reorganization of the holding company that controls IDW Publishing is designed to lead to an exchange listing for the company, the company announced today. IDW Publishing CEO Ted Adams is ascending to the position of CEO of the holding company, which is being renamed IDW Media Holdings in the reorganization. Adams will add two of IDW Publishing’s sister companies to his management portfolio in the process.
The new holding company will own or control eight entities, the six entities associated with IDW and two entities in unrelated businesses. The IDW entities are IDW Publishing, IDW Entertainment, IDW Games, San Diego Comic Art Gallery (a new gallery planned for this summer, see “IDW…Opens Gallery”), the recently acquired Top Shelf Productions (see “IDW Acquires Top Shelf”), and IDW Limited. The other two entities, which will now fall under Adams’ management, are CTM Media Group, a brochure and digital advertising distributor; and Ettractions, a travel-based web portal.
The holding company was previously named CTM Media Holdings. In 2009, CTM Media Holdings was spun out of the holdings of IDT Mobile, which acquired controlling interest in IDW Publishing in 2007 (see “IDT Acquires IDW Publishing”).
The company plans to register its stock under the Securities Exchange Act of 1934 and seek to list its shares on a national securities exchange. Two classes of the company’s stock are currently listed on the OTC Pink Sheets Pink Tier.
Howard Jonas, the chairman of the holding company, lauded Adams’ qualifications for his expanded role. “Ted Adams has built IDW into an entertainment giant,” he said. “IDW’s growth in just its fifteen years of existence has been extraordinary and is a testament ot Adams’ ability to build, diversify, and grow his business. He is the perfect person to serve as CEO over IDW Media Holdings and continue to grow all its interests in exponential ways.”
IDW’s sales have more than doubled since 2009 (see “IDW Sales Topped $25 Million in Fiscal 2014”).
No management changes in the operating companies are planned as a result of the reorganization. “As I’ve done throughout my time running IDW Publishing, I am looking to grow the business with the established teams we already have in place,” IDW CEO Adams said.