IDT Internet Mobile Group Acquires Controlling Interest in IDW Publishing

Tue, July 24th, 2007 at 12:00am PDT

Comic Books
CBR News Team, Editor

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Official Press Release

Newark, NJ - 2007 - IDT Internet Mobile Group (IMG), a division of IDT Corporation, has formed Zedge Studios to develop and license digital content for distribution through web and mobile platforms. Additionally, IMG has acquired a controlling interest in IDW Publishing, a leading independent comics publisher pre-eminent in the horror, action, and sci-fi genres, boasting such high-profile titles as The Transformers, 30 Days of Night, CSI, Star Trek, 24, and Scarface.

Moshe Berger, formerly CEO of IDT Entertainment, which was sold to Liberty Media in 2006, is now working towards making IDT's Internet Mobile Group an industry leader. "We have seen the explosion of digital content, especially user-generated content, over a variety of platforms," said Mr. Berger, IMG CEO and head of Zedge Studios. "This is what the new generation of consumers craves. Our intention is for Zedge Studios to become the worldwide destination for content on the web and on mobile devices. IDW Publishing's stellar reputation in the comics and graphic novel arenas and its emphasis on original intellectual properties in the action and horror genres are a perfect fit for Zedge Studios. Working closely with IDW's brilliant management and creative team will bring us one step closer to achieving our global goal.

An established leader in the comic book and graphic novel marketplace, IDW Publishing has been named "Publisher of the Year" by Diamond Comic Distributors for the previous three years. In keeping with that honor, IDW maintains a commitment to nurturing original content from its dynamic creative roster. For instance, Sam Raimi (Spider-Man) and his Ghost House Pictures optioned the rights to 30 Days of Night from IDW Publishing and are producing the live-action feature film adaptation of the original horror work, published by IDW and created by Steve Niles and Ben Templesmith. Columbia Pictures is scheduled to release the film, which stars Josh Hartnett, in October.

"I'm proud of the growth we've achieved at IDW over the last eight years and very excited to be working with IDT and IMG's Zedge Studios to catapult our company into new territories," said IDW co-founder and CEO Ted Adams. "We look forward to the expanded opportunities that this new business relationship will produce for our existing and future properties."

In December of 2006, IMG announced its acquisition of Zedge, a popular social networking community for mobile users and provider of free mobile content which recently topped the five million member mark. Zedge Studios will capitalize and build upon that loyal user base by developing, acquiring and financing intellectual property (IP) for distribution over multiple channels, including Zedge.net. The site hosts a wealth of complimentary content and tools for mobile phones, with over 250 million pieces of content already downloaded. Zedgers generate, upload, download, or view and share wallpaper, themes, videos, ringtones, games and other free mobile content. Zedge also hosts a robust social community and its blog, zedgeheadz, focuses on the world of mobile content.

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