IDT (IDT) is a serial spinner. Over the life of this blog alone the telecommunications company helmed by former hot dog stand operator/current billionaire Howard Jonas has spun off oil & gas assets (Genie Energy, GNE), ringtones (Zedge, ZDGE) and intellectual property/spectrum assets (Straight Path Communications). Quite an odd assortment of assets for a telecom company, but it… Read More »
Yesterday, Zedge(ZDGE) completed its spinoff from IDT(IDT). The press release is short on details, focusing on the usual boundless optimism associated with a new spinoff. Tom Arnoy, co-founder and CEO of Zedge, said, “Since our inception, we have been focused on developing an exceptional service that enables Zedgers to express their identity, feelings, tastes and interests on their… Read More »
Serial spinner IDT(IDT) has set the date for its spinoff of Zedge(ZDGE). IDT shareholders as of May 26 at 5PM will receive one share of Zedge for every three IDT shares that they own. The spinoff will be effective at 11:59PM on June 1. The company’s most recent form 10 can be found here. We recently had the… Read More »
Hey, we know what you’re thinking. You wish there was a way to invest in a pure-play ringtone and phone wallpaper company. Well, thanks to IDT(IDT), you will not have to wish much longer. IDT has filed a form 10 as the first step in spinning off its majority stake in Zedge. Zedge, in case you missed it… Read More »