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Image Extends Acquisition Deadline

19 Nov, 2007 By: Chris Tribbey

Image Entertainment has again extended its closing date of its acquisition by BTP Acquisition Co. LLC to “no later than” Nov. 28.

The Chatsworth, Calif.-based company had extended the closure of the $132 million acquisition to Nov. 15, but extended the date again to “permit BTP to finalize the financing documentation necessary to consummate the acquisition,” according to a press release.

Image, which has a library of roughly 3,000 DVD titles, reported losses of $2.6 million on reported revenues of $20.9 million during the first fiscal quarter of the year,

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