Wednesday, May 17, 2006

News: Another Corporate Parent Buyout

IDTES (IDT Entertainment Sales), a subsidiary of IDT Corp, a phone card company, which owns the licensing rights to some Thomas the Tank Engine videos among others has been sold to Liberty Media, which among other things owns QVC, Encore, Starz, and News Corporation. I don't think this matters all that much. I'd never heard of IDT or IDTES until this press release. At lease Liberty Media is in the media business. I get the impression looking at the Liberty Corporate History that they only really exist to create paper money by merging, spinning off, creating tracking stocks, etc. I guess it keeps their accountants busy.

Read the news story here: North Jersey Media Group providing local news, sports & classifieds for Northern New Jersey!: "'This transaction furthers our strategy of converting investments into strategic operating businesses that have synergies with our current companies. IDT Entertainment and Starz is a great combination,' Gregory B. Maffei, CEO of Liberty Media, said in a statement"

In a related note, see "Funtastic Nabs Madman Group" for yet another Thomas related acquisition.

I'd love to see an algorythm or map or something showing all the companies involved it wringing that extra dime out of Thomas the Tank engine around the world. I have no idea who is involved until one of them issues a press release that they've been bought.

Note to self: Start tracking stock involved in the distribution or licensing of Thomas the Tank Engine in some capacity; Agree to be bought by some other opportunistic acronym company no one's ever heard of; Retire to Cancun; repeat.

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