IDT Corp. Sells Winstar 622601

GVC Networks has acquired IDT Corp.'s subsidiaries; Winstar Communications, Winstar Government Solutions, and Winstar Wireless

January 26, 2006

1 Min Read

NEWARK, N.J. -- IDT Corporation today announced that GVC Networks LLC, of Detroit, Michigan, has acquired IDT's subsidiaries; Winstar Communications, LLC, Winstar Government Solutions, LLC and Winstar Wireless, LLC. These Winstar operating entities currently provide telecommunications services under government contracts to various agencies of the United States government.

IDT Corporation, through its IDT Telecom subsidiary, is a facilities-based, multinational carrier that provides a broad range of telecommunications services to retail and wholesale customers worldwide. IDT Telecom, by means of its own international telecommunications backbone and fiber optic network infrastructure, provides its customers with integrated and competitively priced international and domestic long distance and domestic all-distance telephony and prepaid calling cards. IDT Entertainment is the IDT subsidiary focused on developing, acquiring, producing and distributing computer-generated and traditionally animated productions and other productions for the film, broadcast and direct-to-consumer markets. IDT Capital is the IDT division principally responsible for the Company's initiatives in radio broadcasting, brochure distribution and new video technologies. Net2Phone, Inc., a subsidiary of IDT Corporation, is a leading provider of high-quality global retail Voice over IP services and offers a fully outsourced cable telephony service to cable operators allowing cable operators to provide residential phone service to their subscribers.

IDT Corporation's Class B Common Stock and Common Stock trade on the New York Stock Exchange under the ticker symbols IDT and IDT.C, respectively.

IDT Corp. (NYSE: IDT)

Winstar LLC

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