Image Hires Firm, Eyes Possible Sale or Merger

Image Entertainment Inc., a U.S. DVD-licensing company, hired Lazard Freres & Co. to examine a possible sale or merger to fend off Lions Gate Entertainment Corp., which has sought to take control of its board.

The review is aimed at boosting Image’s value for investors, according to a regulatory filing by the Chatsworth-based company. Lions Gate nominated six directors Sept. 12 to replace Image’s board, which rejected its $4-a- share takeover bid last October.