Liberty-IDT deal draws up more programming for Starz
Liberty Media is set to add a little more muscle to its entertainment holdings by Q3 2006 when it acquires IDT Entertainment. The Englewood, Colorado-based company that owns stakes in U.S. channels TLC, QVC and the Discovery Channel, will trade its minority share of IDT Corp. and pay US$186 million in cash to wholly purchase the entertainment division of the New Jersey-based company. It is also assuming approximately US$36-million in net debt when the transaction goes through. The acquisition will give Liberty the tools to create a catalogue of live-action and animated content for its multi-headed distribution system.
June 1, 2006
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