Author Topic: IDWM - IDW Media Holdings Inc.  (Read 54427 times)

whatdadil9

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Re: IDWM - IDW Media Holdings Inc.
« Reply #10 on: February 26, 2016, 10:09:11 AM »
Looks like Dirk Gently set to air in 4th quarter of 2016

http://popwrapped.com/four-reasons-excited-new-dirk-gently-series/


whatdadil9

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Re: IDWM - IDW Media Holdings Inc.
« Reply #11 on: February 28, 2016, 09:11:29 AM »
Looks like Machi Koro got board game of the year in 2015. Continues to be top seller in 2016....

http://idwgames.com/machi-koro-keeps-on-rolling/

whatdadil9

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Re: IDWM - IDW Media Holdings Inc.
« Reply #12 on: March 04, 2016, 05:20:24 AM »
Another interesting feature of this investment is the dividend which is rather uncommon for a growth/media company like this..

The Company pays .65 which is essentially a 3 percent yield. The company has steadily increased its dividend over the years as its two steady businesses have grown. IDT pays a dividend as well and recently announced that they are moving forward with their spin-off of Zedge. Zedge is a mobile app that IDT incubated in house that is now run-rating 6.5mm of EBITDA and one of the top downloaded apps on the app store.

The Jonas'/IDTs track record of creating value from nothing/incubating small businesses like these has been pretty awesome in recent years...

Makes sense that IDWM would follow suit...

whatdadil9

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Re: IDWM - IDW Media Holdings Inc.
« Reply #13 on: March 08, 2016, 07:19:55 AM »
Howard Jonas's comments about John Malone are pretty amazing.. Why couldn't John take a stake in this again?

Below is part of press release from when Howard sold IDT Entertainment to Liberty.

LIBERTY MEDIA TO ACQUIRE IDT ENTERTAINMENT; Starz's top premium television service to join with IDT's animation and live action production and home entertainment distribution business. Combined company will produce content for all distribution platforms.

May 16, 2006 - Englewood, CO and Newark, NJ May 16, 2006--- Liberty Media Corporation (NASDAQ: LINTA, LCAPA) and IDT Corporation (NYSE: IDT, IDT.C) announced today that they have entered into a binding term sheet for the sale of IDT Entertainment to Liberty Media for all of Liberty Media's interests in IDT, $186 million in cash and the assumption of existing indebtedness. With this acquisition, Liberty Media's Starz Entertainment Group will have the capability to create a wide array of CG animated and live action programming for domestic and international distribution in all major channels, including broadcast syndication, premium television, theatrical, and home video/DVD.

Gregory B. Maffei, CEO of Liberty Media, said "This transaction furthers our strategy of converting investments into strategic operating businesses that have synergies with our current companies. IDT Entertainment and Starz is a great combination. We have appreciated our long friendship with IDT and look forward to the next phase of our partnership."

"John Malone has been a great mentor and friend. I anticipate great things from our continuing business relationship," said Howard Jonas, IDT's Chairman.

"This is a union of two companies that have complementary strengths and share the entrepreneurial spirit essential for success in the rapidly changing world of video production and distribution," said SEG President and CEO Robert B. Clasen. "With the addition of the dynamic, creative team at IDT Entertainment, our company will be positioned to capitalize fully on the opportunities afforded by the new era of content."

See full press release here:

http://boards.fool.com/liberty-media-to-acquire-idt-entertainment-24109512.aspx?sort=postdate

whatdadil9

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Re: IDWM - IDW Media Holdings Inc.
« Reply #14 on: March 15, 2016, 06:33:13 AM »
Lionsgate launch ComicCon channel in May. Certainly looks like an additional portal to sell content into above and beyond Amazon, NFLX, iTunes, normal carriage, et al....

Importantly, shows LionsGate commitment / desire to explore / harvest comic book content. We think LionsGate could be a natural acquiror based on their Canada domicile and IDW's desire to utilize Canadian production/tax credits...

http://variety.com/2016/film/news/lionsgate-comic-con-channel-1201728963/

whatdadil9

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Re: IDWM - IDW Media Holdings Inc.
« Reply #15 on: March 21, 2016, 10:41:56 AM »

whatdadil9

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Re: IDWM - IDW Media Holdings Inc.
« Reply #16 on: March 29, 2016, 01:45:04 PM »
Great article on Wynonna Earp in Forbes that airs April 1, 2016 on SyFy.

There is also an interview section with Ted Adams that is pretty interesting.

http://www.forbes.com/sites/robsalkowitz/2016/03/29/wynonna-earp-offers-supernatural-action-with-a-heart-of-gold/2/#1099c5d77093


whatdadil9

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Re: IDWM - IDW Media Holdings Inc.
« Reply #17 on: April 18, 2016, 10:31:55 AM »
Not sure how we missed this....

Elijah wood starring in Dirk gently....

http://deadline.com/2016/03/elijah-wood-cast-dirk-gentlys-holistic-detective-agency-series-bbc-america-1201724423/


This is a major major pull....

Aman1

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Re: IDWM - IDW Media Holdings Inc.
« Reply #18 on: April 18, 2016, 01:25:19 PM »
Hi whatdadil9,

Just reading through your comments and the ADW Q415 letter that provides some more context to the company.

Do you have a sense of the sales / EBITDA contribution of the entertainment division - more specifically the economics of the three shows? Wondering if it is enough to move the dial in their own right or will need future seasons / a wider selection of shows to drive a materially higher EBITDA.

whatdadil9

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Re: IDWM - IDW Media Holdings Inc.
« Reply #19 on: April 18, 2016, 01:48:18 PM »
Hi Aman-

As you can imagine every TV deal is structured differently. What I can tell you is that for non major networks (ABC, NBC, CBS) like these 500k- 1mm per episode in revenues is not out of the ordinary. The margins are also very high. I encourage you to look at DHX Media for reference/comps. We think incremental EBITDA margins could be north of 50 percent maybe higher ---certainly at scale.

So to answer your question: Yes, these three shows should move EBITDA on a consolidated basis materially. There is also a cross selling opportunity in terms of the board game and graphic novel biz. In connection with the recently aired Wynonna Earp, the publishing arm is releasing new comic books and plans to release a new board game as well.

If you have ever invested in a "jonas" company you would know that these guys are intensely opportunistic and entrepreneurial. This Company is an interesting mix of current growing cash flow while seeding an increasing number of call options that can become recurring cash flow.

Valiant Entertainment raised substantial dollars at a 100mm premoney valuation at the corporate level with only a couple mm dollars of sales and negative profits. They have also yet to "air" any of their properties. If we assume that IDW Entertainment is worth at least what Valiant was valued at (Its worth more) than you are getting publishing and the other biz for free. Or said another way, if you eliminate corporate overhead and investment in entertainment the core biz more than covers today enterprise value -- you are getting entertainment for free....

We think there are a ton of ways to win here and these companies rarely stay independent forever.


Our guess is that in 2017 when the Conmpany has the entertainment EBITDA behind them the Company will pursue their previously announced uplist/get research coverage/pursue an IR campaign that will narrow the valuation discount...

Content still is king and these guys have a really nice growing library of it...