IDT buys Genie

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IDT Corp., Hackensack, N.J., purchased the Genie Online Service from Yovelle Renaissance Corp., New York, effective Monday. Terms of the transaction were not disclosed. IDT plans to relaunch the service formerly owned by General Electric as Genie Interactive, a Web-based online service to compete with America Online, CompuServe and Prodigy through flat-fee Web access and its own customizable content, games and chat communities.

Copyright August 1996 Crain Communications Inc.

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