Liberty Media Acquires Stake in POW! Entertainment

BEVERLY HILLS, September 20:
Liberty Media Corporation has completed the first stage of its acquisition of
IDT's entertainment division, including a stake in Stan Lee's POW!
Entertainment Inc.

Now IDT and Liberty will
work together in the distribution and development of projects, including the
six Stan Lee Presents character
franchises that POW! (Purveyors of Wonder) created. “The next phase of
development will be directed by Liberty Media, a company with a record for
realizing the potential of media and entertainment assets,” says Jim Courter,
the CEO of IDT Corporation.

IDT's Entertainment
Division, along with its POW! Entertainment ownership and Stan Lee Presents
assets, has been combined with Liberty's wholly owned subsidiary Starz
Entertainment Group and is attributed now to the Liberty Capital Group.

“Joining IDT Entertainment
and Starz will allow both to benefit and grow as part of an integrated media
organization with substantial programming production capabilities and access to
all distribution outlets,” said Liberty president and CEO Gregory B. Maffei.
“And this transaction advances our strategy of converting passive assets into
operating business units.”

The new company will
produce live-action and animated programming, including feature films, series,
specials and shorts. It will distribute that programming to various platforms:
theaters, DVD, cable, satellite, broadcast, and over the Internet in both the
domestic and international market.

POW! Entertainment was
founded by world famous comic book and motion picture icon Stan Lee, co-creator
of Spider-Man, X-Men, The Hulk, and Fantastic Four,
together with award winning producer Gill Champion and Arthur Lieberman.