A failed merger due to the dry-up of credit has put Image Entertainment in trouble. the future of the company is uncertain and recent reports cited by the company mention that it can not survive for a long time with its existing assets and debts.
The company has sought "other alternatives" for its future, which means, in essence, it is looking to sell itself once again. there is no telling how much the company would seek, however, due to the recent plunge the stock has taken, i am not sold on it being at a price anywhere near its former agreements.
There is a bleak picture here, and while the company has significantly cut its losses, it seems as though unless they break into the black anytime soon, it is going down. A merger seems to be the most likely "alternative". A sad time for the company. Sad indeed.
$0.7 (07/06/09)
