OTHER NEWS - Jan. 25, 1993

IDB To Buy Long-Distance Competitor: Culver City-based IDB Communications, which has built a burgeoning business in the international long-distance telecommunications field, said it will acquire TRT Communications for 4.5 million IDB shares. TRT currently is owned by utility giant PacifiCorp. The deal will make IDB the No. 1 provider of international private line services, Chairman Jeffrey Sudikoff said. IDB’s 1992 revenue was about $230 million. TRT will add another $100 million-plus per year in business, Sudikoff said. In addition, he said, the deal will add to IDB’s earnings in 1993, despite the new shares, because of savings after integrating TRT’s business. IDB stock jumped $1.75 to an all-time high of $23.75 in NASDAQ trading Friday, before the news was announced. IDB has prospered in recent years by serving a host of international customers with private, specially designed communications link-ups.