IDW Media Holdings Inc. has launched a strategic review process, retaining J.P. Morgan as an adviser as it looks for options to maximize the value of its content library.
The move follows lobbying by IDW investor Adam Wyden, managing member of ADW Capital Partners LP, who earlier urged IDW Media Holdings to hire an investment bank to initiate a sale process.
While the review process could result in a transaction, IDW said in a March 25 statement that it could offer no assurances about the outcome.
"We are working to extend our reach through new strategic partnerships while examining other alternatives to realize the full value of IDWM's outstanding IP portfolio and pipelines," Chairman and CEO Howard Jonas said in a statement.
IDW Media Holdings' companies provide a wide range of entertainment products worldwide.