Image Entertainment's acquisition pushed back

By Lisa Kerner

Charlotte, N.C., Jan. 15 - The closing of Image Entertainment, Inc.'s acquisition by BTP Acquisition Co., LLC has been extended to Feb. 1 from Jan. 14.

BTP agreed to deposit $1 million with Image in addition to the $2 million deposited by BTP in December, according to a company news release.

In March 2007, BTP - an affiliate of David Bergstein - agreed to acquire Image for $4.40 per share in a cash transaction valued at $132 million, including debt.

Image Entertainment is an independent licensee, producer and distributor of home entertainment programming in North America based in Chatsworth, Calif.

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