Image Angle Background

[Bojsza]

When I

set the angle of image test to 50

The image rotates correctly but the resulting image has a black 
background. I basically want to take one word text fields, convert them 
to images , rotate (or in this case set the angle) them and place the 
resulting rotated images side by side creating a circle.

Can the black background be eliminated or made transparent?

Is there a better way to create rotated text?

thanks,

Glen