Another extension for Image, BTP merger

By Susanne Ault -- Video Business, 11/29/2007

NOV. 29 | Image Entertainment has again extended the deadline for the closure of its purchase by BTP Acquisition Co., to Dec. 3.

In delaying the transaction from its earlier anticipated Nov. 28 deadline, Image said it needed to give BTP more time to pull together required financing for the deal. Originally, Image and BTP expected the merger to be finalized on Nov. 15.

There could be further delays to the transaction, as Image has agreed to extend the timing to Dec. 7 if BTP deposits $2 million in trust by the close of business on Dec. 3.

All other terms of the merger agreement remain unchanged.