Newark, N.J. June 24, 2003 – Talk America Radio Networks is pleased to announce the addition of “The Movie Show On Radio” to its programming lineup. Talk America Radio Network is a division of IDT Media, a subsidiary of IDT Corporation (NYSE:IDT, IDT.C), a multinational carrier, telephone and technology company.
“The Movie Show On Radio” is the only syndicated weekend call-in talk show dedicated to the discussion of movies and videos. The program is a high energy fun-filled two hours of “movietalk” with renowned movie critics Mike Mayo and Max Weiss designed to appeal to both the serious movie fan, as well as, the occasional movie watcher.
“The Movie Show,” presently heard on over 80 talk stations across the country, will be available to all Talk America affiliates. The program is broadcast live from 4-6PM (ET) each Saturday and rebroadcast from 8-10PM and 10PM to 12AM.
“The Movie Show” is a perfect fit for Talk America because it adds affiliates and audience and instantly extends our presence into 5 of the top 10 markets in the nation,” said Jim Courter, IDT’s CEO. “We’re confident “The Movie Show on Radio” will be a box office hit that will add to the growth and revenue of Talk America.”
“Talk America finds itself in an enviable position,” said Trang Nguyen, COO of Talk America. “As a result of the strong foundation we’ve built, quality, original programming is beating a path to our door. The Movie Show On Radio is upbeat, entertaining and contemporary, the perfect marquee property that will broaden our appeal to a whole new group of younger listeners from ages 25-54.”
On June 10, 2003 IDT announced that Liberty Media Corporation acquired a 5.6% stake in IDT Media.
IDT Corporation, through its IDT Telecom, Inc. subsidiary, is a facilities-based, multinational carrier that provides a broad range of telecommunications services to its retail and wholesale customers worldwide. IDT Telecom, by means of its own national telecommunications backbone and fiber optic network infrastructure, provides its customers with integrated and competitively priced international and domestic long distance telephony and prepaid calling cards. IDT and Liberty Media Corporation own 95% and 5% of IDT Telecom, respectively. Liberty Media Corporation also owns a 5.6% stake in IDT Media. IDT Media, Inc. is the IDT subsidiary principally responsible for the Company’s initiatives in media, new video technologies and print media. Winstar Holdings, LLC is the IDT subsidiary through which we provide broadband and telephony services to commercial and governmental customers through a fixed-wireless and fiber infrastructure. In December 2002, we announced that the services offered by Winstar would begin to be offered under the name “IDT Solutions.” Net2Phone, Inc., which we reconsolidated effective August 1, 2002, is a leading provider of high-quality global retail Voice over IP services, either directly or via a partner.
IDT Corporation common shares trade on the New York Stock Exchange under the ticker symbols IDT and IDT.C.
In this press release, all statements 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, including, but not limited to, those described in our 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. These factors include, but are not limited to, the following: potential declines in prices for our products and services; our ability to maintain and grow our retail telecommunications services, particularly our prepaid calling card business; availability of termination capacity; financial stability of our customers; our ability to maintain carrier agreements with foreign carriers; effectiveness of our marketing and distribution efforts; increased competition, particularly from regional bell operating companies; our ability to manage our growth; competitiveness of our Winstar subsidiary; impact of government regulation; our ability to obtain telecommunications products or services required for our products and services; and general economic conditions, particularly in the telecommunications markets. We are under no obligation, and expressly disclaim any obligation, to update the forward-looking statements in this press release, whether as a result of new information, future events or otherwise.