IDW Media Holdings, the company that includes a prominent comics division and an entertainment division behind such series as Syfy’s Wynonna Earp, BBC America/Netflix’s Dirk Gently̵…
, said Thursday it is undergoing cost-cutting measures including reducing its workforce by more than a third, delisting from the NYSE and making changes to senior management in response to “operational challenges.”
As a result, IDW expects to hold approximately $5.7 million cash and cash equivalents as of April 28. The overall plan will “position the company for recovery and future growth,” putting IDW in “the strongest position possible to unlock value from its assets, including its intellectual property and ability to generate new intellectual property,” IDW said in a press release today.
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