Outside Counsel Solutions advises IDT Corporation on the Spin-Off of CTM Media Holdings Inc
Outside Counsel Solutions advised IDT Corporation on the pro rata tax-free spin-off of the common stock of CTM Media Holdings, Inc. to IDT’s stockholders.
IDT Corporation is a consumer-focused company operating primarily in the telecommunications and energy industries. 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.
CTM Media Holdings is the holding company for: CTM Media Group – a leading distributor of print and online advertising and information in targeted North American tourist markets; Idea and Design Works, LLC – IDW Publishing, a comic and book publisher with a diverse catalog of licensed and independent titles including classic collections; and WMET 1160 AM – a paid programming radio station in the Washington, D.C. metropolitan area. CTM Media Holdings Class A and Class B common stock are quoted on the Pink OTC Markets.
Dov Schwell led the Outside Counsel Solutions team, assisted by Craig Tzvi Gherman, Ely Kronenberg and Jillian Walsh.
“This was a complex transaction and we appreciate IDT’s confidence in choosing us to take the lead role,” said Dov Schwell. “The OCS team worked seamlessly with the client, tax counsel and auditors to structure the transaction, draft necessary disclosure documents, get through the SEC review process and consummate the Spin-Off.”
Bill Pereira, Chief Financial Officer of IDT Corporation commented: “Outside Counsel Solutions has previously advised IDT Corporation on numerous matters. They always provide a timely and efficient service and this matter was no different.”
For more information, please contact:
Deborah Kandel, Director of Marketing, Outside Counsel Solutions, 646 328 0856, dkandel@outsidecounsel.net
For purposes of bar rules, this press release may be considered attorney advertising. The principal office of Outside Counsel Solutions is located at 1430 Broadway, Suite 1615, New York, New York, 10018. Prior results described herein do not guarantee a similar outcome.
About Outside Counsel Solutions
Outside Counsel Solutions, a full-service law practice provides top-quality legal services to clients ranging in size from among the largest Fortune 100 businesses to individuals and start-up companies. With attorneys based both in New York City and in Jerusalem, OCS is uniquely positioned to offer very attractive rates while maintaining its emphasis on providing top-quality legal services.
OCS attorneys are graduates of top U.S. law schools and have varied and extensive prior experience at leading U.S. law firms and companies. This collective expertise spans a diverse range of practice areas. OCS offers personal, efficient and remarkably cost-effective service from very qualified and experienced attorneys. To learn more about OCS, visit www.outsidecounsel.net.
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