Image Entertainment has hired an investment banking firm to review its businesses and strategic options, the company announced Monday. Lazard Freres and Co. was brought on board by Image’s special committee to examine all strategic and financial opportunities to maximize long-term value, committee chairman Ira S. Epstein said. “They will work with us to properly assess the best course for the company and all its stockholders,” Epstein said. Chatsworth-based Image is an independent licensee, producer and distributor of home entertainment programming. The company has been the target of a takeover by Lions Gate Entertainment Corp., which holds 19 percent of Image stock, making it the second largest stockholder. Lionsgate attempted an acquisition of Image last fall but the offer was rejected by Image’s board of directors. In March, Lionsgate filed a lawsuit seeking to ensure that Image puts its entire board of directors up for re-election at the company’s next annual meeting in September.
