Movie Distributor Image Entertaiment To Be Sold For $132 Million; Digital Division Included

Image Entertainment, the publicly traded movie distribution firm, has agreed to be sold to an investor group led by David Bergstein, in a transaction valued at about $132 million. The acquisition price represents a 27 percent premium to Image’s closing share price today. About 40 percent of shareholders have already agreed and the transaction is expected to close by July 31.
Film financier and producer Bergstein, together with his partners, purchased U.K.-based Capitol Films in 2005 and North American distributor Thinkfilm in 2006. Image distributes about 3,000 DVD titles and about 200 CD titles in domestic release and about 300 programs internationally via sublicense agreements. Through its digital media subsidiary Egami Media, it has digital download rights to about 1,500 video programs and over 150 audio programs containing more than 2,500 tracks, it says.
Details in release.

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