Television

Sillerman's CKX acquires 'American Idol' owner for $ 161 million

MUMBAI: Sports Entertainment Enterprises, Inc's CKX Inc., the control of which was recently acquired by Robert F X Sillerman, announced that it had acquired UK based 19 Entertainment Limited.

Founded by Simon Fuller, 19 Entertainment, is the creator of Pop Idol, the format of which is now rolling out worldwide in conjunction with Fremantle Media. In addition, CKX has also entered into a long-term agreement with Fuller.

 

This transaction follows CKX's recent acquisition of a controlling interest in Elvis Presley Enterprises, which owns and controls the commercial utilisation of the name, image and likeness of Presley, the operation of the Graceland museum and related attractions, as well as revenue derived from Presley's, television specials, films and certain of his music.

 

 

CKX acquired 19 Entertainment from its shareholders, including Fuller, for total consideration consisting of $124.4 million in cash and 1,870,558 shares of CKX common stock, each paid at closing, and an additional $36.9 million in either cash or stock to be paid following delivery of audited results for the fiscal year ended 30 June, 2005.

The Company financed the cash consideration with borrowings and through the exercise of $25 million of outstanding common stock purchase warrants held by Sillerman and other members of management of CKX, the Huff Alternative Fund, the Company's largest institutional equity investor, and an affiliate of Huff. The warrants were obtained by Sillerman, Huff and the other holders in connection with their initial investments in the Company in February 2005.

19 Entertainment is a leading creator and producer of entertainment properties, including American Idol in the US, Pop Idol in the UK, as well as versions of the Pop Idol format in more than 30 countries around the world.

In addition to creating and producing entertainment programming, the Company has recording contracts with and manages or has managed some of the world's best known musicians and other artists, including the Spice Girls, Annie Lennox, S Club 7 and former American Idol and Pop Idol participants, such as Kelly Clarkson, Clay Aiken, Ruben Studdard and Fantasia.

The Company has also entered into an exclusive global joint venture with David and Victoria Beckham.

Commenting on the 19 acquisition, Sillerman said, "Simon Fuller and his associates at 19 Entertainment have a long history of developing and building some of the most impactful branded entertainment properties in the world. We are thrilled to have them as partners of CKX. As we grow our business, the content that 19 owns, controls, is developing, or develops in the future will become important elements in our effort to refocus the relationship between the creators of content and the distributors of that content."

Fuller added, "This is a hugely exciting new partnership for myself and 19 Entertainment. CKX will provide 19 with a powerful platform for global growth and allow us to fully take advantage of all the amazing opportunities that lie ahead. Bob Sillerman is a true visionary. From the very first day we met it was clear that we shared the same dynamic vision for the direction of the entertainment industry in the 21st century and the ever increasing importance of content and creativity. I cannot wait to get started."

In addition to controlling the operations of 19 Entertainment and its subsidiaries, Fuller will be appointed a director of CKX and will play a key role in planning and implementing the Company's overall creative direction. Fuller, who founded 19 Entertainment in 1985, has spent his entire career in the entertainment industry and has been publicly recognised as among the most successful British music managers of all time.

CKX is engaged in the ownership, development and commercial utilisation of entertainment content.

Latest Reads

http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2017/12/17/greengold.jpg?itok=nKMJWQ6p
Green Gold’s Golden Mumbai launch

MUMBAI: Green Gold Animation is all set to hit the green running with its new offshoot Golden Robot. The Rajiv Chilaka-run animation outfit has been wowing everyone with its deals for animation series with both Netflix and Amazon Prime.  But the occasion this time was the celebration of the launch...

Television Production House Film Production
http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2017/12/16/Gujarat_elections.jpg?itok=_UNo5uA8
Gujarat elections boost news channel ratings as Republic continues to lead English News

BENGALURU: Rahul Gandhi’s shenanigans and Narendra Modi’s sudden and unexpected belligerence at rallies leading up to the Gujarat state assembly elections have resulted in bolstering sagging news viewership, especially for the English news genre. According to Broadcast Audience Research Council of...

Television TV Channels News Broadcasting
http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2017/12/15/sunny-leoae.jpg?itok=3SZqrF40
Sunny Leone in Discovery JEET’s show Man Vs Wild

Sunny Leone will be displaying her adventurous side as host of the mega-popular survival series Man Vs. Wild. The iconic series will telecast in Hindi on the soon-to-be-launched GEC Discovery JEET. The new GEC will premiere in the second week of February 2018 and the series will feature the...

Television TV Channels GECs
http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2017/12/15/sm.jpg?itok=gUhILkq8
Times Now appoints Sujeet Mishra as marketing head

Times Network, part of India’s media conglomerate, The Times Group today announced the appointment of Sujeet Mishra as head of marketing, Times Now.

Television TV Channels People
http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2017/12/15/sony-bbc_1.jpg?itok=mQuiQxIO
Experience space with BBC's new VR experience

The BBC is giving you a chance fly. Home - A VR Spacewalk is an interactive virtual reality (VR) experience launched today for the HTC Vive and the Oculus Rift, and is available to download for free via the Steam Store and the Oculus Store.

Television TV Channels Factual & Documentary
http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2017/12/15/bbc_0.jpg?itok=jTEnctw5
Sony BBC Earth presents the Best of 2017

Sony BBC Earth revisits some of its most popular episodes of the best shows in a special programming line-up titled Best of 2017 starting 18 December 2017, every night at 7 pm and 11 pm.

Television TV Channels Factual & Documentary
http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2017/12/15/shemaroo.jpg?itok=JLK5kQw2
Increased revenue from traditional media boosts Shemaroo numbers

Integrated media content house Shemaroo Entertainment Limited (Shemaroo) reported 18.3 percent higher year-on-year (y-o-y) consolidated total revenue for the quarter ended 30 September 2017 (Q2 FY 2017-18, the quarter under review) stood at Rs 1,345.7 million as compared with Rs 1,138.6 million in...

Television Production House Film Production
http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2017/12/15/mur.jpg?itok=Hql64_2L
21st CF spins-off into new live news & sports co Fox

MUMBAI: After the blockbuster acquisition of 21st Century Fox by The Walt Disney Company, the former has announced that it will spinoff into a new brand Fox’ that will seek to replicate its own success in the newly focussed verticals of live news and sports brands. Using fiscal 2017 as a base, the...

Television TV Channels News Broadcasting
http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2017/12/15/uday_0.jpg?itok=t8VAurqw
With Star India, Disney emerges as India's largest M&E firm

MUMBAI: Unlike the US, where the merger of The Walt Disney Co and 21st Century Fox’s entertainment assets is between two near equals, the scenario in India is totally different. 21st Century Fox’s India venture Star India is a $1.7 billion dollar media and entertainment behemoth while Disney India...

Television TV Channels People

Latest News

Load More

Sign up for our Newsletter

subscribe for latest stories