IDT Corp. Unit to Provide Production Services for Popular Children’s Animated TV Series
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IDT Media’s Digital Production Solutions to Work on 26 Episodes of “Monster by Mistake” Over Two Years
NEWARK, N.J. – June 6, 2002 – IDT Corporation (NYSE: IDT.B, IDT), a leading multinational carrier and telephone company, today announced that IDT Media’s Digital Production Solutions (D.P.S.) division has signed an agreement with CCI Entertainment, Ltd., to provide production services for 26 episodes of Monster by Mistake, a popular 3-D children’s TV series. The two year project will be managed by D.P.S.’s Global Animation Studio.
“Make no mistake, this is a monster of a deal,” said Jim Courter, IDT’s CEO. “By applying the latest in 3-D animation technology to Monster by Mistake’s character and location models, textures, lighting, and visual effects, we’ll make sure the series gets off to a great start here in the U.S.”
Monster by Mistake was launched in Canada and Europe and will be coming to American television. Global Animation Studio offers producers access to international animation talent on demand for a fraction of domestic costs, and with levels of control similar to an in-house studio.
“Monster by Mistake is great family entertainment, and the creative
collaboration capabilities and financial controls we provide are a filmmaker ’s dream come true,” said Yehuda Wurtzel, CEO of Digital Production Solutions. “Using our proprietary software, at any stage of production the show’s producers and directors can monitor the work of everyone from our modelers in India, to our texture artists in Taiwan, to our designers in Newark.”
“We’re so excited about what we can bring to Monster by Mistake that we’ve taken an equity stake in the property,” added Jim Courter. “By delivering 3-D production at 2-D prices, we’re confident we can help make Monster a strong presence on American television.”
IDT CORPORATION
IDT, through its IDT Telecom subsidiary, is a leading facilities-based,
multinational carrier that provides a broad range of telecommunications
services to its retail and wholesale customers worldwide. Through its own national telecommunications backbone and fiber optic network infrastructure, IDT Telecom provides its customers with integrated and competitively priced international and domestic long distance telephony and prepaid calling cards. IDT Media is the IDT subsidiary principally responsible for the Company’s initiatives in media, new video technologies and print media.
Through its various subsidiaries, IDT has interests in several telecom,
Internet-related and media companies. IDT recently acquired Winstar
Communications. IDT Corporation common shares trade on the New York Stock Exchange under the ticker symbols IDT.B and IDT. As of March 15,2002, there were 47,010,887 shares of Class B common stock (IDT.B) outstanding, and 19,088,116 shares of common stock (IDT).
Except for historical information, all of the expectations and Assumptions contained in the foregoing are forward-looking statements, within the meaning of Section 27A of the Securities Act of 1933 and the Securities Exchange Act of 1934, involving risks and uncertainties. These statements refer to our plans to implement our growth strategy, improve our financial performance, expand our infrastructure, develop new products and services, expand our customer base and enter international markets. The forward looking statements also include our expectations concerning factors affecting the markets for our products, including the demand for long distance telecommunications, and Internet access services. These forward looking statements are subject to risks and uncertainties that could cause actual results to differ materially from the results that we anticipate. These risks and uncertainties include, but are not limited to, those risks discussed in this release. In addition to the factors specifically noted in the forward looking statements, other important factors that could result in those differences include (a) general economic conditions in the telecommunications and Internet markets, including inflation,recession,
interest rates, and other economic factors; (b) casualty to or other
disruption of our facilities and operations; (c) those discussed in our
Annual Report on Form 10K for the period ended July 31, 2001 and (d) other factors that generally affect the business of telecommunications, Internet and other communications companies. We assume no obligation to update these forward looking statements or to update the reasons actual results could differ materially from the results anticipated in the forward looking statements.
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Jun 06, 2002 |
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