Image Delisted from NASDAQ

Image Entertainment Inc. will no longer be listed on the Nasdaq Stock Market as of Feb. 3 for falling below the required $15 million value limit. The Chatsworth-based producer and distributor of home entertainment programming expects that its common stick will be listed on the over-the-counter Pink Sheets. Image will not deregister its stock with the U.S. Securities and Exchange Commission and will continue filing periodic, quarterly and annual reports. The delisting is the latest bad news for Image, already hurting from a drop in consumer spending on DVDs. In January the company was notified it was in violation of NASDQ Listing Rules for not having any independent members of its board of directors and not getting shareholder approval for a change in control of the company. Mark R Madler