Robert Johnson Agrees To Buy Image Entertainment And Acorn Media

BETHESDA, Md., April 2, 2012 — Robert L. Johnson, Chairman of The RLJ Companies and founder of Black Entertainment Television (BET), announced today that RLJ Acquisition, Inc. (OTCQB: RLJAU; RLJA; RLJAW) (the “Company”) has entered into agreements to acquire each of Image Entertainment, Inc. (OTCQB:DISK) and Acorn Media Group, Inc., two highly complementary media businesses to create one of the largest independent distributors of digital and video content globally. The new combined company will be named RLJ Entertainment, Inc. Shares of the new company are expected to trade on the NASDAQ Stock Market. RLJ Entertainment, where Johnson will serve as Executive Chairman, and will leverage his substantial expertise in media, consumer branding, and strategic relationships to accelerate growth and drive value creation. (more…)

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