Stamford, CT; San Diego, CA (May 25, 2017) – IDW Media Holdings, Inc. (OTCQX: IDWM) is pleased to announce that, on May 22, 2017, Stephen R. Brown joined its Board of Directors. Since October 2016, Mr. Brown has served as the President of GMA Fund, LLC, a specialty finance company, and, since February 2015, has served as the Chief Financial Officer of Nanovibronix, Inc. (OTCBB: NAOV). In addition, since 2009, Mr. Brown has been the managing partner of The McGuffin Group Financial, a financial consulting firm concentrating on advising early-stage companies.
Mr. Brown also served as Chief Financial Officer and several other senior management positions for IDT Corporation (NYSE “IDT”) from April 1995 to January 2009, during which time he oversaw the financial aspect of taking the start-up telecommunications company public and guided it through the spin-offs of two subsidiaries, various public offerings and bank facilities. Mr. Brown was also the founder and Chairman of IDT Entertainment Inc., a media subsidiary of IDT that was sold to Starz Media.
“We are very happy to welcome Steve Brown to our Board of Directors,” said Ted Adams, IDW’s Chief Executive Officer. “Steve brings a wealth of experience in the entertainment industry as well as having been a CFO for large and small companies. We’re optimistic that Steve’s financial and entertainment expertise will help IDW continue to grow into a major player in the entertainment industry.”
Mr. Brown does not have any Legal/Disciplinary History, Related Party Transactions or Family Relationships with respect to IDW that require disclosure pursuant to Item 11 of Section One of the OTC Markets Alternative Reporting Standard’s Disclosure Guidelines for OTCQX companies. Mr. Brown does not beneficially own any equity securities of IDW, and will receive $12,000 per year as compensation for his services as an outside director. Mr. Brown’s business address for IDW matters is c/o IDW Media Holdings, 11 Largo Drive South, Stamford, CT 06907. There are no agreements between IDW and Mr. Brown.
Mr. Brown filled the vacancy on IDW’s Board of Directors left by the resignation on May 22, 2017 of Jan Buchsbaum. Mr. Buchsbaum was a member of the Audit Committee and Compensation Committee of the Board of Directors. There was no disagreement between Mr. Buchsbaum and IDW or its Board of Directors, with Mr. Buchsbaum deciding to resign from the Board to focus on other professional obligations.
All statements above that are not purely about historical facts, including, but not limited to, those in which we use the words “believe,” “anticipate,” “expect,” “plan,” “intend,” “estimate,” “target” and similar expressions, are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. While these forward-looking statements represent our current judgment of what may happen in the future, actual results may differ materially from the results expressed or implied by these statements due to numerous important factors. To the extent permitted under applicable law, we assume no obligation to update any forward-looking statements.
About IDW Media Holdings
IDW Media Holdings, Inc. (OTCQX: IDWM) is a fully integrated media company, which includes the award-winning IDW Publishing, IDW Games, IDW Entertainment, Top Shelf Productions, the San Diego Comic Art Gallery, and CTM Media Group Inc. CTM Media Group Inc. is one of North America’s largest distributors of tourism information. Distributing over 100 million brochures last year, CTM’s comprehensive visitor out of home marketing network includes over 14,000 brochure information displays and over 400 award-winning touch screen kiosks.