March 20, 2018
RLJ Entertainment has retained fiscal advisor Allen & Co. and Greenberg Traurig as its legal counsel regarding the pending proposal from AMC Networks to acquire all outstanding shares of common stock of RLJE not currently owned by AMC Networks or entities affiliated with founder/board chairman Robert L. Johnson.
RLJE, which was formed in 2012 through the merger of Acorn Media Group and Image Entertainment, said retention of the advisors is no guarantee that a definitive agreement will be reached with AMC Networks or that any transaction involving the home entertainment distributor will be approved by the board’s special committee.
‘The company does not currently intend to announce any developments with respect thereto unless a definitive agreement for a transaction has been entered into or the special committee otherwise has formally completed its review process,” RLJE said in a statement.
Notable assets include SVOD services Acorn TV and Urban Movie Channel (UMC). Subsidiaries include Image Entertainment, Agatha Christie Ltd., and Acorn Productions Ltd.
Indeed, 20th Century Fox in 2013 acquired the theatrical rights to Christie’s Murder on the Orient Express from Acorn Productions, and the subsequent film was released last November and generated more than $350 million at the global box office, including $103 million domestically.
The title was released at retail Feb. 27 by 20th Century Fox Home Entertainment.