May 29, 2008 |
CKX Inc., owner of the "American Idol" brand, said Wednesday that it had agreed to a revised buyout offer valued at $1.19 billion from a group led by CKX Chief Executive Robert F.X. Sillerman, called 19X Inc. The revisions include an increased breakup fee payable to CKX if the acquisition isn't completed by a new deadline of Oct. 31, CKX said. New York-based CKX will also conduct a new "go shop" period of 45 to 60 days while the company seeks better offers. 19X's offer is for $12 a share.
October 31, 2006 |
EMI Group said Monday that it had formed a partnership with the Dean Martin trust to market the late singer and movie star's name, image and likeness. Martin's worldwide record sales exceed 50 million units, according to London-based EMI, which said it would continue to market his catalog of recordings. EMI is taking steps to find alternate sources of income from its artists at a time when traditional forms of revenue, such as CD sales, are declining.
May 11, 2011 |
The nation's most popular television show — "American Idol" — will be owned by private equity. Apollo Global Management has struck an all-cash deal to acquire CKX Inc., the parent of 19 Entertainment, producer of Fox's hit show, for $5.50 per share, putting the purchase price at about $509 million, a 25% premium from where CKX stock closed Monday. The sale, which is expected to close within the next two months, would end a period of uncertainty for CKX. In the last few years, several suitors including "American Idol" creator Simon Fuller, CKX founder and former chairman Robert F.X. Sillerman and Hollywood dealmaker Allen Shapiro have each made overtures at CKX only to come away empty-handed.
April 12, 2006 |
Muhammad Ali, thought by many to be the greatest athlete of his generation, rung up a $50-million purse Tuesday without having to step into the ring. CKX Inc.
August 11, 2007 |
MEMPHIS, Tenn. -- The thousands of Elvis Presley fans descending on Memphis for the 30th anniversary of his death Thursday won't see much sign of it, but plans are moving along for big-time changes at Graceland. Managers of Presley's famous home want to overhaul its tourist complex -- with a new visitors center bigger than a football field, a convention hotel and high-tech museum displays that can give a new, digital life to the King himself.
May 29, 2010 |
The next winner of "American Idol" might walk off with the biggest prize yet: the show itself. A bidding war may be on the horizon for CKX Inc., the media and entertainment company whose holdings include 19 Entertainment, producer of the Fox hit "American Idol," as well as a majority stake in Elvis Presley's Graceland mansion. Simon Fuller, the creator of "American Idol" who until earlier this year was a senior executive and board member at the company, is the latest to throw his hat into the ring over the fate of CKX. Fuller is teaming up with financier and former Barclays banker Roger Jenkins on a $600-million bid for CKX, a person close to the situation said.
May 8, 2010 |
The chief executive of the parent company of "American Idol," the top-rated show on television, resigned on Friday and said he was weighing a bid for the entertainment and licensing firm. Robert F.X. Sillerman's departure could trigger a bidding war for CKX Inc., which said last month that it was considering a sale of the company. Veteran media investor Allen Shapiro, who is also chairman of TV Guide Network, is working on a potential bid with JPMorgan Chase & Co.'s private-equity arm, One Equity Partners, according to people close to the situation.
May 6, 2010 |
Media mogul Haim Saban wants to become a brand mogul, too. Saban, who first earned a fortune with "Mighty Morphin Power Rangers" and now is chairman and chief executive of Saban Capital Group, which counts the powerful Spanish-language broadcast network Univision among its holdings, is launching a new company, Saban Brands, and says he is committing $500 million in capital to acquire established entertainment and consumer names. Brands have become one of the latest obsessions for companies looking to reach consumers beyond traditional media.
August 15, 2007 |
MEMPHIS, Tenn. -- Finally welcomed by Graceland after all these years, Elvis Presley impersonators need to keep one basic rule in mind -- respect the King. Managers of Presley's home in Memphis plan to anoint their first-ever official Elvis "tribute artist" this week as they mark the 30th anniversary of his death there. But they don't want tacky, they don't want kitschy and they don't want a ridiculous spoof.
December 29, 2006 |
Teenagers in the 1950s and '60s went wild over Elvis Presley, much to the consternation of their parents, but kids in the new millennium aren't so stirred by rock 'n' roll's original rebel. "I can't try to sell somebody Elvis who doesn't know who he is ... that he's not just some guy who's been gone for 30 years," said Paul Jankowski, chief of marketing for Elvis Presley Enterprises Inc.