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Article: Lions Gate Entertainment Makes Unsolicited Proposal to Image Entertainment.
- Article from:
- Business Wire
- Article date:
- September 14, 2005
CopyrightCOPYRIGHT 2005 Business Wire. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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CHATSWORTH, Calif. -- Image Entertainment, Inc. (Nasdaq:DISK), a leading independent licensee, producer and distributor of home entertainment programming in North America, today reported that Lions Gate Entertainment Corp. (NYSE:LGF) has made a proposal to enter into a negotiated strategic transaction to acquire all of Image Entertainment's stock.
In recent public filings, Lions Gate Entertainment stated it has acquired 4,033,996 shares, or 18.98%, of Image Entertainment's currently outstanding shares of common stock, and that it "believes that the acquisition of the Company would be consistent with its desire to broaden and deepen its library of filmed ...