Liberty Buys IDT Entertainment
Liberty Media Corp will buy IDT Entertainment in a complex stock-swap and cash deal, the companies announced today.
Under the deal, Liberty will exchange stock it owns in IDT Corp. and $186 million in cash for the IDT Entertainment subsidiary. It will also assume IDT Entertainment’s existing debt.
IDT Entertainment is the parent company of animation producer/distributors Film Roman, Mainframe Entertainment, and Anchor Bay Entertainment.
[Source: IDT Corp.]