IDT Ent. today (Nov. 3, 2005) agreed to acquire a major Australian-based independent distributor of theatrical, video and DVD product, Imagine Ent. This increases Imagines offerings with the assets of IDT Ent.s home entertainment subsidiary, Anchor Bay, an established leader in the field that boasts an expansive selection of theatrical films, television series and childrens and fitness titles.
This acquisition is the perfect example of our overall business strategy, said Morris Berger, ceo, IDT Ent. In just over three years, we have become a global entertainment force with proven strength in the technology, production, and distribution of entertainment product. This acquisition completes IDT Ent.s expansion into virtually all English-speaking territories. It also provides additional consumer outlets for our burgeoning catalogue of entertainment assets.
Established in 2001, Imagine Ent. distributes home entertainment product to the Australian and New Zealand rental and retail marketplaces. The companys releases include the Sundance Film Festival Grand Jury Prize, documentary finalist UNKNOWN WHITE MALE; the romantic comedy, Marilyn Hotchkiss BALLROOM DANCING AND CHARM SCHOOL; the outrageous ZOMBIE HONEYMOON and the new clay-animated comedy, DISASTER.
Imagines current slate includes additional seasons of the hit primetime series C.S.I.; the Emmy Award-winning telefilm, LIFE WITH JUDY GARLAND: ME AND MY SHADOWS; the DOC MARTIN AND WRONG COAST TV series and the Kid Tuff banner, which includes the IDT Ent. titles, POPEYES VOYAGE and INSPECTOR GADGETS BIGGEST CAPER EVER. Future rental releases include the Michael Keaton-starrer, GAME 6 and the Edward Furlong thriller, CRUEL WORLD.
Imagine Ent. is led by md John Vale and marketing director Marilyn Greig.
IDT Ent. is the perfect home for Imagine Ent., said Vale. We expect our position in the marketplace to expand rapidly based on Anchor Bays aggressive acquisition strategy and premium quality IDT Ent. properties, such as the highly-anticipated MASTERS OF HORROR series, Harry Connick Jr.s HAPPY ELF, the upcoming release of SPAWN and Rob Zombies first animated film, EL SUPERBEASTO.
Combining John Vales experience with Anchor Bays existing product and IDT Ent.s strength will produce excellent opportunities in this market over the next few years, said Ted Green, ceo, Anchor Bay Ent.
The acquisition is expected to close during November. IDT Ent. is a subsidiary of IDT Corp., an international telecom, entertainment, and technology company.
Newark, New Jersey-based IDT Ent. (www.idtentertainment.com) is a vertically integrated entertainment concern focused on developing, acquiring, producing and distributing computer-generated and traditionally animated productions and other productions for the film, broadcast and direct-to-consumer markets. IDT owns Film Roman (now DPS Film Roman), DKP Effects, Manga Ent., Anchor Bay Ent. Group, a controlling interest in Mainframe Ent. Inc. plus a minority equity interest in Vanguard Animation Llc. and Stan Lees POW! Ent.
