Ezra Rosensaft has been appointed CEO of IDW Media Holdings, the parent company of IDW Games, after Interim CEO Marc Knoller resigned on July 14.
Rosensaft has served as CFO since 2018 and was previously Executive Vice President of Finance for the Entertainment division. Brooke Feinstein was appointed Chief Accounting Officer on July 16. Feinstein served as Controller since November 2018.
The company has also divested itself of CTM Media Group Inc., a tourism-focused brochure distribution and marketing company. The subsidiary was sold to IDW Chairman, Howard Jonas for $3.75 million plus possible additional payments. The sale will retire part of the $5 million debt owned to Jonas. Jonas has also agreed to convert the remaining debt to shares. The sale is subject to approval by shareholders and lenders.
“The sale of CTM, which operates primarily in the travel and tourism market, enables IDW to focus completely on the pursuit of exciting opportunities to build our media businesses. The sale should have a positive impact on our financial performance in the coming quarters while significantly strengthening our balance sheet and enhancing our capacity to invest in long-term growth.” said Rosensaft.