Image Entertainment Announces Joint Venture with MIC Media for DVD / Home Video and Audio Releases

4-Oct-02

Lyricist Lounge-10 Year Anniversary (DVD/Video), Lyricist Lounge Presents Best of Hip-Hop Video Volume #1 (DVD/Video), Lyricist Lounge Presents Down South (DVD/Video/Audio) Are First Titles AnnouncedImage Entertainment, Inc. (NASDAQ: DISK), a leading licensee and distributor of DVD programming, today announced that it has entered into a strategic joint venture agreement with MIC Media for the development, production and distribution of four DVD/Video titles and two audio releases. The titles to be released are Lyricist Lounge-10 Year Anniversary (DVD/Video), Lyricist Lounge Presents Best of Hip-Hop Video Volume #1 (DVD/Video), Lyricist Lounge Presents Down South (DVD/Video/Audio) and a yet to be titled NBA player compilation album. Financial terms of the deal were not disclosed.Martin Greenwald, Imageís President and CEO, said, ìThe joint venture with MIC Media represents a major step forward in Imageís urban initiative. Lyricist Lounge is a successful and proven brand because the programming is consistently amongst the finest in the market. I am, therefore, delighted that Image has been chosen as a partner and look forward to putting all of our sales and marketing expertise behind these upcoming titles.îBarry Gordon, Senior Vice President of Acquisitions for Image, said, ìThe Lyricist Lounge brand remains one of the most vital forces in urban, hip-hop entertainment. The opportunity to partner with this world class label and their creative team provides another cornerstone to Image with our initiative to provide the marketplace with the absolute best lifestyle programming available.îRonny Kraft, Principal of MIC Media said, ìWe are very excited about the partnership with Image. They are the best at what they do and we relish the symbiotic fit between good-quality content and a leader in distribution and marketing.î Mr. Kraft added, ìWe see the relationship with Image evolving into a strong partnership. Teaming up with industry leaders is always gratifying.îAbout Image Entertainment:Image Entertainment is an integrated home entertainment company, and a leading independent content aggregator with nearly 2,000 exclusive DVD titles in release. The Company also has exclusive videocassette, broadcast, video on demand, audio, streaming video and download rights for many of its exclusive properties. The Company is headquartered in Chatsworth, California and maintains a distribution facility in Las Vegas, Nevada. Image is one of the largest distributors of DVD programming in North America, and has distribution and sublicense agreements throughout Asia, South America and Europe for select programming on DVD and videocassette as well as for broadcast. The Company has one of the largest selections of DVDs available online through its e-commerce subsidiary, DVDPlanet, at www.dvdplanet.com. For more information on Image Entertainment, Inc., please go to www.image-entertainment.com.

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