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Issue: Animation - Sep 26, 2003

IDT MEDIA’S DPS TO ACQUIRE CONTROLLING INTEREST OF MAINFRAME ENTERTAINMENT

NEWARK, NJ - IDT Media's animation unit, Digital Production Solutions (DPS), has signed a letter of intent to acquire a controlling interest in Vancouver's Mainframe Entertainment.

Mainframe (www.mainframe.ca), a leading producer of computer animation has partnered with Hasbro, Mattel and Sony to create TV series based on characters and brands such as Barbie, Hot Wheels and Spider-Man. The studio is well known for its work on the mid-‘90s entirely 3D animated "Reboot" series, and most recently posted the holiday-themed "Scary Godmother Halloween Spooktakular." Since its inception in 1993, Mainframe has produced over 240 half hours of computer animation.

"This acquisition is a vital part of IDT's long-term growth strategy," says IDT (www.idtsolutions.net) CEO Jim Courter. "Mainframe Entertainment will provide DPS with additional programming, new distribution channels and increased revenue."

"Acquiring Mainframe makes DPS bigger and better," says Morris Berger, president of DPS. "It provides us with another animation hub located in Canada to add to our existing international network. We enhance our ability to develop, produce and merchandise animated programming for distribution worldwide and we gain an experienced partner with an impressive record for putting programming on the air."

In May 2003, DPS acquired a controlling interest in Film Roman, the animation company responsible for "The Simpsons," "King of the Hill," and other well known broadcast television programs. In July, DPS announced that it had entered into a partnership agreement with Vanguard Animation to co-produce and co-own all Vanguard properties, including feature film releases, direct-to-DVD and broadcast.