IDT takes a stake in Archie

Move accompanies pact to develop TV, direct-to-video projects

IDT Entertainment, which last month acquired a controlling interest in Vancouver toon shop Mainframe Entertainment, Tuesday announced the acquisition of a 5% stake in Archie Comics Entertainment.

Financial terms weren’t disclosed. Move accompanies an IDT-Archie agreement to develop animated TV and direct-to-video projects based on the well-known Archie Comics characters.

“We look forward to the limitless opportunities that will be generated by our association,” said Allan Grafman, Archie Comics Entertainment prexy.

“This is a brand that has stood the test of time,” IDT chief exec Morris Berger said. “We’re excited to be working with Archie Comics to produce animated programming for their loyal audience.”

Plans include the creation of direct-to-DVD titles to be distribbed through Anchor Bay, IDT’s distribution division. An eventual feature-film project is also possible, officials said.

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