Back to press releasesNewark, N.J., June 8, 2005 – IDT Entertainment today announced it has signed a two-year, multi-picture distribution deal with Twentieth Century Fox. Under terms of the agreement, Twentieth Century Fox will distribute computer generated (CG) animated theatrical releases produced by IDT Entertainment. IDT Entertainment is a subsidiary of IDT Corporation (NYSE:IDT, IDT.C), an international telecom, entertainment, and technology company.
“IDT Entertainment has taken an important step towards its goal of producing and arranging distribution for its quality feature films,” said Jim Courter, IDT’s CEO. “Just as IDT’s unique blend of excellence and efficiency caused a revolution in the telecommunications industry, IDT Entertainment’s combination of high-quality animation and streamlined production is bringing innovation to the creation of computer generated films.”
Commented Fox Filmed Entertainment co-chairman Jim Gianopulos: “We are impressed with IDT Entertainment’s commitment to building a strong production team. Fox Home Entertainment had already established a relationship with IDT Entertainment’s Anchor Bay Entertainment, and we are pleased to build on that via this new theatrical distribution deal with IDT Entertainment.”
Added Fox Filmed Entertainment co-chairman Tom Rothman: “IDT Entertainment is devoting significant resources to producing animated feature films, and we look forward to working with them to bring those pictures to the marketplace.”
The agreement provides IDT Entertainment with the expertise, experience and effectiveness of one of the most successful CG animation distributors in the business.
“I am proud of the talented creative and management teams that we have assembled,” said Morris Berger, CEO of IDT Entertainment. “With our creative development and computer generated production capacity, as well as our financial strength, we are well positioned to become an important provider of animated feature films, and we look forward to working with Fox.”
IDT Entertainment, a division of IDT Corporation, is a vertically integrated entertainment concern that develops, produces, and distributes proprietary and licensed entertainment content, with a particular focus on high-quality animation. IDT Entertainment’s subsidiaries include animation studios Film Roman, Mainframe Entertainment, and DKP Studios; distribution companies Anchor Bay Entertainment, Manga Entertainment, and IDT Entertainment Sales (IDTeS), and live action production company New Arc Entertainment.
Important Note: In this press release, all statements that are not purely about historical facts, including, but not limited to, those with 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 IDT’s 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, including, but not limited to, those described in IDT’s most recent report on SEC Form 10-K (under the heading “Management’s Discussion and Analysis of Financial Condition and Results of Operations”), which may be revised or supplemented in subsequent reports on SEC Forms 10-Q and 8-K and other filings IDT may make with the SEC.
