RLJ Entertainment Inc.'s board formed a special committee of independent directors to consider a proposal from AMC Networks Inc. to acquire all outstanding shares of the company's common stock not currently owned by AMC or entities affiliated with Robert Johnson, chairman of RLJ's board.

The special committee will evaluate and respond to the proposed transaction, the company said Feb. 27. The special committee, comprising RLJ directors Andor Laszlo and Scott Royster, is in the process of engaging an independent legal adviser and an independent financial adviser to assist in its review of the proposed transaction.

AMC Networks offered to buy the outstanding shares of RLJ not currently owned by AMC Networks or entities affiliated with Johnson for a purchase price of $4.25 per share in cash.