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Wednesday, Jun 7, 2023

Image Continues Talks With Lions Gate

Chatsworth-based Image Entertainment Inc., has announced an update from the special committee of its Board of Directors on the proposal made public by Lions Gate Entertainment Corp. on September 13. On September 30, Lions Gate complied with the Special Committee’s request to sign a confidentiality agreement, at which time the committee directed Image to provide Lion’s Gate with extensive information about Image to assist Lions Gate with its due diligence process. On October 14, and again at the direction of the special committee, Image Entertainment senior management made a comprehensive presentation to Lions Gate senior management. Following that presentation, the special committee,satisfied with the information provided to Lions Gate,requested Lions Gate to submit a revised proposal by October 31, that better reflects the value of Image.

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