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Liberty Buys IDT Entertainment

by on May 16, 2006

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.]

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