In Acquiring Mood, IDT Nabs Archie and Friends

A month after buying a controlling share of Canadian-based ani house Mainframe Entertainment, IDT Entertainment has announced that it has added a stake in Archie Comics to its portfolio.

With a reported 5% stake in the franchise, IDT is set to develop animated TV fare and direct-to-DVD/VHS projects based on the lives and loves of Archie and his friends.

"The last year has proven to be a time of tremendous growth for both Archie Comics Entertainment, LLC and IDT Entertainment, which has gained industry-wide recognition for its distinctive and innovative approach to worldwide animation," says Allan I. Grafman, president of Archie Comics Entertainment. "IDT’s commitment to wholesome, fun, animated programming is our ‘sweet spot.’ IDT’s strategy, family orientation, management and staff are in perfect sync with Archie Comics Entertainment.”

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

DVD/VHS product produced under the agreement will be distributed by Anchor Bay, IDT’s distrib division. An eventual Archie feature-film is also possible.