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IDT acquires Anchor Bay homevid biz

Multinational telco picks up specialized house

IDT Entertainment has agreed to purchase the Anchor Bay Entertainment Group, a home entertainment company that licenses, markets and distributes films, TV shows and direct-to-video programming.

Financial terms of the deal, which is expected to close this month pending government approval, were not disclosed. Anchor Bay is owned by the Handleman Co., a music and homevid marketing outfit.

Anchor Bay will become an operating unit of IDT Entertainment, which is a subsid of multinational telco IDT Corp.

Anchor Bay controls a library of more than 3,500 titles, including children’s series “Thomas the Tank Engine” and the syndie TV skeins “Hercules” and “Xena.”

IDT Entertainment owns stakes in various animation producers, including a controlling interest in Film Roman, home of animated series “The Simpsons” and “King of the Hill.”

Also last week, IDT Entertainment closed on its purchase of a controlling interest in Mainframe Entertainment, a Vancouver-based CG toon house that works on films, TV and vidgames.