Posted by Milton Griepp on July 20, 2020 @ 4:16 am CT
The deal is subject to shareholder approval, the approval of the holder of CTM’s PPP loans, and "other customer conditions."
The transaction takes debt off IDW’s balance sheet and divests a division that never seemed a good fit with the publishing and entertainment divisions. And as a tourism-based company, CTM would have likely dragged down the company’s performance for the foreseeable future. CTM’s sales in the quarter ended April 30 were down 43%, with an operating loss of $1.6 million. The division was shut down for the last month of the quarter (see "IDW Publishing Sales Up Despite COVID").
In a New Balloon at This Year's Macy's Thankgiving Day Parade
October 18, 2021
The Pokemon Company International and Macy’s, Inc. revealed a new balloon design for the upcoming Macy's Thanksgiving Day Parade.