IDT Spinoff Includes WMET

Part Of Spinoff

IDT CORPORATION has spun off its media interests into a new wholly-owned subsidiary, CTM MEDIA HOLDINGS. Brokered Ethnic WMET-A (WORLD RADIO MUNDIAL)/GAITHERSBURG-WASHINGTON is among the assets included in the new entity.

With YESTERDAY's spinoff, each IDT stockholder received one share of CTM Class A common stock for every three shares of IDT common stock, one share of CTM Class B common stock for every three shares of IDT Class B common stock, and one share of CTM Class C common stock for every three shares of IDT Class A common stock. The stock is being traded on the Pink OTC Markets under the symbols CTMM (Class A) and CTMX (Class B).

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