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Lions Gate sell-off could signal end of bid to acquire Image Entertainment.(NEWS & ANALYSIS)(Lions Gate Entertainment Corp.)
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In what may signal the beginning of the end--or perhaps a change in tactics--of its long-running bid to take over troubled Image Entertainment Inc., Santa Monica's Lions Gate Entertainment Corp. has sold off 123,500 shares of the Chatsworth CD and DVD distributor.
The stock represents slightly more than 3 percent of Lions Gate's stake in Image. In all, Lions Gate owned 19 percent of the company.
Lions Gate executives declined to comment, but the sale comes in the wake of last fall's failed bid to elect a Lions Gate-backed slate of directors to the Image board and nearly ...
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