Printer Friendly

IMAGE ENTERTAINMENT AND FOXVIDEO SIGN NEW LONG-TERM EXCLUSIVE DISTRIBUTION AGREEMENT

IMAGE ENTERTAINMENT AND FOXVIDEO SIGN NEW LONG-TERM EXCLUSIVE DISTRIBUTION
    AGREEMENT
    LOS ANGELES, July 7 /PRNewswire/ -- Image Entertainment Inc. (NASDAQ-NMS: DISK) and FoxVideo Inc. today announced the signing of a four-year exclusive laserdisc distribution agreement.  Under the new agreement, Image has the right to exclusively acquire existing and future FoxVideo titles through June 30, 1996.  In connection with the distribution agreement, Twentieth Century Fox Film Corp., FoxVideo's parent company, was issued warrants to purchase shares of Image common stock.
    Martin W. Greenwald, chairman and chief executive officer of Image Entertainment, stated, "FoxVideo titles such as 'Home Alone,' 'Star Wars,' 'Die Hard' and 'Aliens' represent some of our biggest releases.  We've earned FoxVideo's confidence and are very happy to secure long-term exclusive rights to its premier programming.  The warrant and new distribution agreement are part of our corporate plan of strategic partnering.  This partnering, which began with the November 1991 issuance of a warrant to The Walt Disney Co. in connection with a long-term licensing agreement and continued with the February and April 1992 purchases of Image restricted common stock by Mitsubishi and Mitsui, is designed to position Image as a major force in the laserdisc market for years to come."
    FoxVideo President North America Robert J. DeLellis, expressed continued confidence in Image's handling of their laserdisc distribution.  "We have worked together in building a strong foundation for what we feel will grow during this agreement into a dynamic and mature market.  The exciting combination of Fox theatrical efforts and our great depth of catalog points to a continuation and expansion of our joint efforts.  Our participation with Image is testimony to our confidence in their continuing to be at the forefront of the laserdisc industry.  We look forward to sharing with Image in the future of this dynamic and innovative format."
    Image Entertainment has an estimated 35 percent share of the domestic laserdisc market.  The company has the most extensive library of titles, and exclusive licensing and distribution agreements with some of the most important suppliers of movies, music videos and specialty programming, including, in addition to FoxVideo, Disney's Buena Vista Home Video, Orion Home Video, Playboy Home Video, Turner Home Entertainment and Hanna-Barbera Home Video.
    -0-             07/07/92
    CONTACT:  Cheryl Lee of Image Entertainment, 818-407-9100, ext. 256; Amy Alter of Fox Video, 212-674-9505; or William F. Coffin of FRB Los Angeles, 818-783-2400, for Image Entertainment
    (DISK) CO:  IMAGE ENTERTAINMENT INC.; FOX VIDEO INC. IN:  ENT ST:  CA -- LA015 -- X781  07/07/92
COPYRIGHT 1992 PR Newswire Association LLC
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1992 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:PR Newswire
Date:Jul 7, 1992
Words:413
Previous Article:RML TO PROPOSE CHANGE OF NAME AT AUGUST 24 ANNUAL MEETING
Next Article:ROCKWELL DECLARES QUARTERLY DIVIDENDS
Topics:


Related Articles
IMAGE ENTERTAINMENT REPORTS RECORD SALES AND EARNINGS FOR FISCAL 1992; OPERATING INCOME CLIMBS 154 PERCENT
IMAGE ENTERTAINMENT INC. REPORTS FIRST-QUARTER RESULTS
IMAGE ENTERTAINMENT, INC. TO HOLD ANNUAL MEETING OF SHAREHOLDERS, DEC. 11
IMAGE ENTERTAINMENT ANNOUNCES EXCLUSIVE LICENSE AGREEMENT WITH CABIN FEVER HOME VIDEO
FOXVIDEO'S 'TRUE LIES' TO BE RELEASED IN DOLBY SURROUND AC-3 DIGITAL ON LASERDISC THROUGH IMAGE ENTERTAINMENT
HALLMARK HOME ENTERTAINMENT AND IMAGE ENTERTAINMENT ENTER INTO EXCLUSIVE LASERDISC AGREEMENT
TWENTIETH CENTURY FOX FILM CORP. ESTABLISHES TWENTIETH CENTURY FOX HOME ENTERTAINMENT REFLECTING STUDIO'S WORLDWIDE COMMITMENT TO RAPID GROWTH IN...
IMAGE ENTERTAINMENT SIGNS EXCLUSIVE FIVE-YEAR LASERDISC OUTPUT LICENSE AND DISTRIBUTION AGREEMENT FOR MGM/UA TITLES
'Independence Day' Invasion Hits Home
Image Entertainment and Polygram Video Sign Exclusive Five Year Laserdisc Agreement

Terms of use | Copyright © 2017 Farlex, Inc. | Feedback | For webmasters