IDW “goes dark” on the NYSE, lays off 39% of their staff

[Hypo]

IDW “goes dark” on the NYSE, lays off 39% of their staff

The Comics Contraction of ’23 continued today as IDW announced it is being delisted from the NYSE, making large changes in senior management and laying off 39% of its workforce as part of “cost cutting measures.”

The moves come after months of losses for the company in most business sectors, as reported in SEC filings. IDW stock opened at $0.82 cents but plunged to $0.47 as the announcement circulated.

Among the personnel changes: Davidi Jonas, the son of principal IDW owner Howard Jonas, is replacing Allan Grafman as CEO. CFO Brooke Feinstein is also out, and Amber Huerta has been promoted to COO.

While the PR did not specifically mention other layoffs among the 39% of the workforce laid off, The Beat has learned that the entire marketing and PR staff and half of editorial have been let go, including publisher Nachie Marsham. We are working to get names of remaining staff, and information on the fate of imprints such as Top Shelf, as well as details on the editorial reorganization.

[Deathstroke]

Going to be interesting to see how this ends up playing out.

[Digifiend]

Delisting from the stock market? Is this the beginning of the end?

[MajorHoy]

Delisting from the stock market? Is this the beginning of the end?

How many other independent comic book companies are listed on the stock market these days?

[Digifiend]

How many are truly independent at all? The end could just mean bought out, not bankrupt.

[Frontier]

How many currently ongoing franchises does IDW still have? I know they lost all the Hasbro stuff but they've got Star Trek, Sonic, etc.

[McFarlane's Green Hulk]

How many currently ongoing franchises does IDW still have? I know they lost all the Hasbro stuff but they've got Star Trek, Sonic, etc.

I'm wondering how Paramount is going to take this news. Heard they were pretty picky on their comics.
Or...I'm conflating an old PAD interview on his not-so-fun tenure on the DC series.

[Hypo]

More details on IDW layoffs and reorganization emerge

The Beat can confirm that Jamie S. Rich remains at the company and has been promoted to editor in chief. Mark Doyle, who spearheaded the Originals line, also remains, as does Scott Dunbier, the editor behind the much lauded Artist’s Edition line, Star Trek editor Heather Antos, Top Shelf editor Leigh Walton, and editor Kristen Simon. Sonic/Godzilla editor David Mariotte confirmed his continued employment in a tweet.

We’re told that Doyle and VP of publishing operations Tara McCrillis will take over as co-publishers. We’ve reached out to IDW for more details on their restructuring.

As we reported yesterday, publisher Nachie Marsham has been let go. Deadline reports that Paul Davidson, EVP and head of IDW Media’s entertainment division has also been let go – leaving the future of IDW’s entertainment division in doubt. All but two people in the division were laid off.

I’ve been told that the entire sales and marketing department was removed, including Blake Kobashigawa, SVP of sales, marketing & strategy; Keith Davidsen, director, PR and marketing; and Anna Morrow, VP of marketing. Several other folks that we worked with in marketing had their emails bounce back, including Topher Alford, senior digital marketing manager.

It’s being reported that other layoffs include content strategy director Greg Gustin, marketing art Director Jack Rivera, and editors Megan Brown and Zac Boone. Group editor Tom Waltz confirmed his departure on Twitter, as did sales and marketing associate Devon Ashby and art director Shawn Lee. In his tweet Waltz noted that he would continue on as a freelancer for IDW.

[EmeraldGladiator]

I was just getting into Star Trek Defiant, wonder if I should temper my excitement.

[Angilasman]

Wonder if Stan Sakai saw the writing on the wall? After the TMNT crossover finishes Usagi Yojimbo will be back to Dark Horse, with Stan getting his own imprint!

[Deathstroke]

Wonder if Stan Sakai saw the writing on the wall? After the TMNT crossover finishes Usagi Yojimbo will be back to Dark Horse, with Stan getting his own imprint!

I hadn't seen that news, did I miss it somewhere?

[Angilasman]

^ News broke last September! Don't fault you for missing it: the decline in both well managed niche news sites and message board culture has made it easier than ever to not know what's going on.

https://www.darkhorse.com/Blog/3593/...int-dark-horse

[Deathstroke]

^ News broke last September! Don't fault you for missing it: the decline in both well managed niche news sites and message board culture has made it easier than ever to not know what's going on.

https://www.darkhorse.com/Blog/3593/...int-dark-horse

Thanks for the link.

[D.Z]

Woke damage

[Username taken]

IDW made some weird decisions with the Transformers and GI Joe franchises.

Some years ago, those titles were selling pretty steady (Transformers in particular was remarkably stable for a long time) but they relaunched the titles over and over and over again. At some point, the franchise just didn't recover.

At this point, besides TMNT, IDW doesn't have any steady sellers anymore. That being said, as others have pointed out, IDW isn't truly independent and it's not going under yet.