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Image Entertainment to be sold to Nyx


November 20, 2008 The home video and music outfit is being sold to media investment group subsidiary Nyx Acquisitions in a $100 million deal, and will operate as a privately held entity. Each will receive $2.75 per share in cash under the merger terms, a 299% premium to the Nov. 20 closing share price of $0.69 and a 267% premium to the latest 30-day average closing price of $0.75. Nyx is a subsidiary of new media investment group Q Black, LLC, led by co-founder and CEO Joe Bretz.

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