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    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman"><strong>UNITED
      STATES </strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman"><strong>SECURITIES
      AND EXCHANGE COMMISSION </strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>Washington,
      D.C. 20549 </strong></font></div>
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      8-K</strong></font></div>
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    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman"><strong>CURRENT
      REPORT </strong></font><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman">&#160;</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>Pursuant
      to Section 13 or 15(d) of the Securities Exchange Act of 1934
</strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Date
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                or other jurisdiction</strong></font></div>
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            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
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                Code)</strong></font></div>
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    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><u>Not
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      name or former address, if changed since last report.) </font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center">
      <hr style="COLOR: black" align="center" noshade size="1" width="40%">&#160;</div>
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      the
      appropriate box below if the Form 8-K filing is intended to simultaneously
      satisfy the filing obligation of the registrant under any of the following
      provisions (see General Instruction A.2. below): </font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
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            <td align="left" valign="top" width="3%">
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                CFR
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          <tr>
            <td align="left" valign="top" width="3%">
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            <td align="left" valign="top" width="3%">
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    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br>&#160;</div>
    <div id="PGBRK" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
      <div id="FTR">
        <div id="GLFTR" style="WIDTH: 100%" align="left">&#160;</div>
      </div>
      <div id="PN" style="PAGE-BREAK-AFTER: always">
        <div style="WIDTH: 100%; TEXT-ALIGN: center">&#160;</div>
        <div style="WIDTH: 100%; TEXT-ALIGN: center">
          <hr style="COLOR: black" noshade size="2">
        </div>
      </div>
      <div id="HDR">
        <div id="GLHDR" style="WIDTH: 100%" align="right">&#160;</div>
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    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>Item
      1.01. Entry into a Material Definitive Agreement.</strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">On
      August
      11, 2006, IDT Corporation (the &#8220;Registrant&#8221;), TLL Dutch Holdings B.V. (&#8220;TLL&#8221;)
      and Liberty Media Corporation and certain of its subsidiaries (collectively,
      &#8220;Liberty Media&#8221;) entered into a Purchase and Sale Agreement (the &#8220;Agreement&#8221;)
      for the sale of the Registrant&#8217;s entertainment division (the &#8220;Entertainment
      Division&#8221;) to Liberty Media in exchange for (subject to certain adjustments) (i)
      all of Liberty Media&#8217;s (and its affiliates&#8217;) interests in the Registrant
      (including approximately 17,237,568 million shares of Registrant&#8217;s Class B
      common stock and Liberty Media&#8217;s (and its affiliates&#8217;) approximate 4.8% interest
      in the Registrant&#8217;s IDT Telecom, Inc. subsidiary (&#8220;Telecom&#8221;) ), (ii) $186
      million in cash and (iii) the assumption of all of the Entertainment Division&#8217;s
      existing third party indebtedness. The Registrant will also be eligible to
      receive additional consideration from Liberty Media based upon any appreciation
      in the value of the Entertainment Division over the five-year period following
      the closing of the transaction or such shorter period under specified
      circumstances. The Registrant will sell to certain subsidiaries of Liberty
      Media
      its interests in IDT Media (the parent company in the Entertainment Division)
      (&#8220;Media&#8221;) and TLL will sell to certain subsidiaries of Liberty Media its
      interests in certain other entities that are included in the Entertainment
      Division. The sale is subject to certain customary conditions and contingencies.
      The parties expect that the closing of the sale of the Entertainment Division
      will occur in three stages: the first stage, for the sale of all US and most
      international operations, to occur by the end of August 2006, the second stage,
      for the sale of the Canadian operations, to occur shortly thereafter following
      receipt of applicable regulatory approvals, and the third stage, for the sale
      of
      the Australian business, to occur as soon as certain customary closing
      conditions are satisfied.</font></div>
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    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Liberty
      Media and its affiliates currently own 17,237,568 shares of the Registrant&#8217;s
      Class B common stock (approximately 24.3% of the total number of such shares
      outstanding), 88.235 shares of common stock of Media (approximately 3.9% of
      the
      total number of such shares outstanding), and 7,500 shares of common stock
      of
      Telecom (approximately 4.8% of the total number of such shares outstanding).
      All
      of the foregoing equity interests (other than the interests in Media) are to
      be
      exchanged (subject to certain adjustments) by Liberty Media pursuant to the
      terms of the sale in exchange for the Registrant&#8217;s and TLL&#8217;s interests in Media
      and certain other entities included in the Entertainment Division. </font></div>
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    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">The
      Registrant and its subsidiaries own 270,504 shares of Liberty Media&#8217;s Liberty
      Interactive Series A common stock and 54,100 shares of Liberty Media&#8217;s Liberty
      Capital Series A common stock.</font></div>
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    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>Item
      9.01. Financial Statements and Exhibits. </strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(d)
      Exhibits</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 63pt">&#160;</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
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          <tr>
            <td align="left" valign="top" width="8%"><font size="2"><u>Exhibit
              No.</u><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;</font></font></td>
            <td align="left" valign="bottom" width="4%">&#160;</td>
            <td align="left" valign="bottom" width="60%"><u><font size="2">Document</font></u></td>
          </tr>
          <tr>
            <td align="left" valign="top" width="8%">&#160;</td>
            <td align="left" valign="bottom" width="4%">&#160;</td>
            <td align="left" valign="bottom" width="60%">&#160;</td>
          </tr>
          <tr>
            <td align="left" valign="top" width="8%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Exhibit
                2.1</font></div>
            </td>
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            <td align="left" valign="bottom" width="60%">
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                and Sale Agreement among the Registrant, TLL and Liberty Media, dated
                August 11, 2006.</font></div>
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            <td align="left" valign="top" width="8%">&#160;</td>
            <td align="left" valign="bottom" width="4%">&#160;</td>
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    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br>&#160;</div>
    <div id="PGBRK" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
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        <div id="GLFTR" style="WIDTH: 100%" align="left">&#160;</div>
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        <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">2</font></div>
        <div style="WIDTH: 100%; TEXT-ALIGN: center">
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    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>SIGNATURE
      </strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Pursuant
      to the requirements of the Securities Exchange Act of 1934, the Registrant
      has
      duly caused this report to be signed on its behalf by the undersigned hereunto
      duly authorized. </font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 27pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">
      <table align="center" bgcolor="#ffffff" border="0" cellpadding="0" cellspacing="0" width="100%">

          <tr valign="top" bgcolor="#ffffff">
            <td width="50%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: ">&#160;</font></td>
            <td width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: ">&#160;</font></td>
            <td width="49%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: ">&#160;</font></td>
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          <tr valign="top" bgcolor="#ffffff">
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            <td colspan="2"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: "><strong>IDT
              CORPORATION</strong></font></td>
          </tr>
          <tr valign="top" bgcolor="#ffffff">
            <td><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: ">&#160;<br>&#160;</font></td>
            <td><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: ">&#160;<br>&#160;</font></td>
            <td><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: ">&#160;<br>&#160;</font></td>
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            <td>&#160;</td>
            <td><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: ">By:&#160;&#160;</font></td>
            <td><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: ">/s/&#160;Motti
              Lichtenstein</font></td>
          </tr>
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            <td align="left">
              <hr style="COLOR: black" align="left" noshade size="2" width="80%">
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                Motti Lichtenstein</font></div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Title:
                Chief Operating Officer</font></div>
            </td>
          </tr>
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            <td colspan="2"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: ">&#160;Dated:
              August 11, 2006<font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman">&#160;</font></font></td>
            <td>&#160;</td>
          </tr>

      </table><br><br></div>
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    <div id="PGBRK" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
      <div id="FTR">
        <div id="GLFTR" style="WIDTH: 100%" align="left">&#160;</div>
      </div>
      <div id="PN" style="PAGE-BREAK-AFTER: always">
        <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">3</font></div>
        <div style="WIDTH: 100%; TEXT-ALIGN: center">
          <hr style="COLOR: black" noshade size="2">
        </div>
      </div>
      <div id="HDR">
        <div id="GLHDR" style="WIDTH: 100%" align="right">&#160;</div>
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    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">EXHIBIT
      INDEX </font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
    <div>
      <table cellpadding="0" cellspacing="0" width="100%">

          <tr>
            <td align="left" valign="bottom" width="6%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>Exhibit</strong></font></div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong><u>Number</u></strong></font></div>
            </td>
            <td align="left" valign="bottom" width="6%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="59%">
              <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong><u>Description</u></strong></font></div>
            </td>
          </tr>
          <tr>
            <td align="left" valign="bottom" width="6%">&#160;</td>
            <td align="left" valign="bottom" width="6%">&#160;</td>
            <td align="left" valign="bottom" width="59%">&#160;</td>
          </tr>
          <tr>
            <td align="left" valign="top" width="6%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">2.1</font></div>
            </td>
            <td align="left" valign="bottom" width="6%">&#160;</td>
            <td align="left" valign="bottom" width="59%">
              <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Purchase
                and Sale Agreement among the Registrant, TLL and Liberty Media, dated
                August 11, 2006.</font></div>
            </td>
          </tr>
          <tr>
            <td align="left" valign="top" width="6%">&#160;</td>
            <td align="left" valign="bottom" width="6%">&#160;</td>
            <td align="left" valign="bottom" width="59%">&#160;</td>
          </tr>

      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><br></div>
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      </div>
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        <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">4</font></div>
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          <hr style="COLOR: black" noshade size="2">
        </div>
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{"company-data": {"conformed-name": "IDT CORP", "cik": "0001005731", "assigned-sic": "4813", "irs-number": "223415036", "state-of-incorporation": "DE", "fiscal-year-end": "0731"}, "filing-values": {"form-type": "8-K", "act": "34", "file-number": "001-16371", "film-number": "061026745"}, "business-address": {"street1": "520 BROAD ST", "city": "NEWARK", "state": "NJ", "zip": "07102", "phone": "973 438 1000"}, "mail-address": {"street1": "520 BROAD STREET", "city": "NEWARK", "state": "NJ", "zip": "07102"}}
UNITED
      STATES
SECURITIES
      AND EXCHANGE COMMISSION
Washington,
      D.C. 20549
FORM
      8-K
CURRENT
      REPORT
Pursuant
      to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date
      of
      Report (Date of earliest event reported): August 11, 2006
IDT
      CORPORATION
(Exact
      name of registrant as specified in its charter)
Delaware
1-16371
22-3415036
(State
                or other jurisdiction
of
                incorporation)
(Commission
                File Number)
(IRS
                Employer
Identification
                No.)
520
                Broad Street
Newark,
                New Jersey
07102
(Address
                of principal executive offices)
(Zip
                Code)
Registrant's
      telephone number, including area code: (973) 438-1000
Not
      Applicable
(Former
      name or former address, if changed since last report.)
Check
      the
      appropriate box below if the Form 8-K filing is intended to simultaneously
      satisfy the filing obligation of the registrant under any of the following
      provisions (see General Instruction A.2. below):
¨
Written
                communications pursuant to Rule 425 under the Securities Act (17
                CFR
                230.425)
¨
Soliciting
                material pursuant to Rule 14a-12 under the Exchange Act (17 CFR
                240.14a-12)
¨
Pre-commencement
                communications pursuant to Rule 14d-2(b) under the Exchange Act (17
                CFR
                240.14d-2(b))
¨
Pre-commencement
                communications pursuant to Rule 13e-4(c) under the Exchange Act (17
                CFR
                240.13e-4(c))
Item
      1.01. Entry into a Material Definitive Agreement.
On
      August
      11, 2006, IDT Corporation (the "Registrant"), TLL Dutch Holdings B.V. ("TLL")
      and Liberty Media Corporation and certain of its subsidiaries (collectively,
      "Liberty Media") entered into a Purchase and Sale Agreement (the "Agreement")
      for the sale of the Registrant's entertainment division (the "Entertainment
      Division") to Liberty Media in exchange for (subject to certain adjustments) (i)
      all of Liberty Media's (and its affiliates') interests in the Registrant
      (including approximately 17,237,568 million shares of Registrant's Class B
      common stock and Liberty Media's (and its affiliates') approximate 4.8% interest
      in the Registrant's IDT Telecom, Inc. subsidiary ("Telecom") ), (ii) $186
      million in cash and (iii) the assumption of all of the Entertainment Division's
      existing third party indebtedness. The Registrant will also be eligible to
      receive additional consideration from Liberty Media based upon any appreciation
      in the value of the Entertainment Division over the five-year period following
      the closing of the transaction or such shorter period under specified
      circumstances. The Registrant will sell to certain subsidiaries of Liberty
      Media
      its interests in IDT Media (the parent company in the Entertainment Division)
      ("Media") and TLL will sell to certain subsidiaries of Liberty Media its
      interests in certain other entities that are included in the Entertainment
      Division. The sale is subject to certain customary conditions and contingencies.
      The parties expect that the closing of the sale of the Entertainment Division
      will occur in three stages: the first stage, for the sale of all US and most
      international operations, to occur by the end of August 2006, the second stage,
      for the sale of the Canadian operations, to occur shortly thereafter following
      receipt of applicable regulatory approvals, and the third stage, for the sale
      of
      the Australian business, to occur as soon as certain customary closing
      conditions are satisfied.
Liberty
      Media and its affiliates currently own 17,237,568 shares of the Registrant's
      Class B common stock (approximately 24.3% of the total number of such shares
      outstanding), 88.235 shares of common stock of Media (approximately 3.9% of
      the
      total number of such shares outstanding), and 7,500 shares of common stock
      of
      Telecom (approximately 4.8% of the total number of such shares outstanding).
      All
      of the foregoing equity interests (other than the interests in Media) are to
      be
      exchanged (subject to certain adjustments) by Liberty Media pursuant to the
      terms of the sale in exchange for the Registrant's and TLL's interests in Media
      and certain other entities included in the Entertainment Division.
The
      Registrant and its subsidiaries own 270,504 shares of Liberty Media's Liberty
      Interactive Series A common stock and 54,100 shares of Liberty Media's Liberty
      Capital Series A common stock.
Item
      9.01. Financial Statements and Exhibits.
(d)
      Exhibits
Exhibit
              No.
Document
Exhibit
                2.1
Purchase
                and Sale Agreement among the Registrant, TLL and Liberty Media, dated
                August 11, 2006.
2
SIGNATURE
Pursuant
      to the requirements of the Securities Exchange Act of 1934, the Registrant
      has
      duly caused this report to be signed on its behalf by the undersigned hereunto
      duly authorized.
IDT
              CORPORATION
By:
/s/ Motti
              Lichtenstein
Name:
                Motti Lichtenstein
Title:
                Chief Operating Officer
Dated:
              August 11, 2006
3
EXHIBIT
      INDEX
Exhibit
Number
Description
2.1
Purchase
                and Sale Agreement among the Registrant, TLL and Liberty Media, dated
                August 11, 2006.
4