Chatsworth, Calif. - Image Entertainment, a licensor, producer and distributor of DVDs and CDs, announced on Friday that it has signed an agreement to sell the company to an investor group for about $132 million.

The buyer is BTP Acquisition Company -- a group led by film producer David Bergstein -- which also recently purchased U.K.-based film distributor Capitol Films, and North American distributor Thinkfilm.

Chatsworth, Calif.-based Image Entertainment counts over 3,000 DVDs and 200 CDs in domestic release. The company's Egami Media unit also has digital download rights to more than 1,500 video programs and 150 audio programs.

"We are very pleased to announce a transaction that provides excellent value for our stockholders, representing a significant premium to our recent stock price and the certainty of cash," Image chairman and CEO Martin W. Greenwald.

"The transaction allows Image to remain a viable and important force in the entertainment industry, and to continue leveraging our strong home entertainment operations."

Related Links:
http://biz.yahoo.com/bw/070329/20070329006181.html?.v=1

http://www.imdb.com/name/nm1520491

http://www.image-entertainment.com