Three join Image Entertainment board
Marshall Heinberg, Mary George and John Hyde tappedMarshall Heinberg, Mary George and John Hyde have joined Image Entertainment's board of directors.
The Chatsworth, Ca.-based company has extended the maturing date of its revolving credit facility with Wells Fargo Capital Finance to July 31, 2011.
Heinberg serves as the head of the investment banking department and is a senior managing director of Oppenheimer & Co. George currently serves as vice chairman of Bell Automotive Products. Hyde is a consultant to and vice chairman of Image.
"These three executives are a strong addition to Image Entertainment's board," Image chairman and CEO Ted Green said. "They bring a significant level of business expertise which will help us execute our growth plans."
Having extended the maturity date of its credit facility and because of the continuing effects of its recent recapitalization and improved liquidity, Image also said that its independent registered public accounting firm has reissued its audit report, excluding the going concern explanatory paragraph which had previously been included in its original audit report dated June 29.
"We are quite proud of what we have accomplished in only seven months and look forward to the additional opportunities available to us as we continue to move in this positive direction," Green said.
"Our financial and corporate reorganizations have now positioned us to further build the company organically and through acquisitions," John Avagliano, COO and chief financial officer added.