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Article Excerpt
Business Editors
NEWARK, N.J.--(BUSINESS WIRE)--Sept. 16, 2003
Mainframe Entertainment, Inc. to join Film Roman Entertainment and Vanguard Animation in DPS' Global Animation Studio Network
IDT Media today announced that its animation unit, Digital Production Solutions (DPS), has signed a binding Letter of Intent to acquire a controlling interest in Mainframe Entertainment, Inc. (TSX. MFE), a leading creator of computer animation for TV and direct-to-video products. IDT Media is a subsidiary of IDT Corporation (NYSE:IDT, IDT.C), a multinational carrier, telephone and technology company.
DPS' acquisition of a controlling interest in Mainframe is subject to both parties meeting certain conditions of closing, including a restructuring of Mainframe's existing debt, and Mainframe's required shareholder and regulatory approval.
Mainframe Entertainment, Inc., one of the world's leading producers of computer animation, has partnered with Hasbro, Mattel and Sony to create TV series based on characters and brands including Barbie, Hot Wheels and Spider-Man. Its...
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