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/2018/05/25/porus.jpg?itok=cz1OH3uq
Porus reaches 10 Asian countries

MUMBAI: Porus is travelling internationally. The mythological show being aired on Sony Entertainment Television has made its entry in Malaysia, Vietnam, Cambodia, Brunei, Laos and Myanmar through JKN Global Media and in Indonesia with Soraya Intercine Films. Porus is now being watched in 10 Asian...

Television TV Channels GECs
http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2018/05/25/MUNCH.jpg?itok=Q0kBzHw6
India News Manch - Modi Sarkar Kitni Asardaar? India News Conclave to Analyze Modi Government’s Four Years in Power

India News, known for its direct and unbiased brand of journalism, is all set to host a special conclave Manch – Modi Sarkar, Kitni Asardaar? (How Effective Has the Modi Government Been?) in New Delhi on Friday, May 25, 2018. The day-long event will present a comprehensive overview of the BJP...

Television TV Channels News Broadcasting
http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2018/05/25/rekha.jpg?itok=ExfdDvbS
How relevant is the age old Lakshman Rekha in today’s times; questions &TV with Mitegi Lakshman Rekha!

Ravan’s abduction of Sita highlighted the consequences of crossing the ‘Lakshman Rekha’ for generations. However, with the talks of gender equality, women’s liberation and financial independence, amongst others, being the topic of global discussion, how relevant is this ‘Lakshman Rekha’ in today’s...

Television TV Channels GECs
http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2018/05/25/anmol.jpg?itok=f-BJ33Wt
Zee Anmol most watched channel across genres

BENGALURU: Zee Entertainment Enterprises Ltd (Zeel) free to air (FTA) Hindi GEC Zee Anmol has reached the realm that has been normally occupied by the Sun TV Network’s flagship Tamil GEC Sun TV or by one of the Hindi channels that has been airing the Indian Premier League. What is remarkable is...

Television TV Channels Viewership
http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2018/05/25/Star%20Sports.jpg?itok=RfDxBBn0
Star India mulls adding VR to PKL 6

MUMBAI: Star India is taking the Indian Premier League (IPL) experience to other sports. After a phenomenal reception for using virtual reality (VR) in IPL 2018, it is diversifying into Pro Kabaddi League (PKL) season six.

Television TV Channels Sports
http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2018/05/25/megha.jpg?itok=HUy8yJ6a
BTVI to leverage digital mediums for growth

MUMBAI: English business news channel BTVI is completing two years in August this year. The company was transformed from Bloomberg TV India after Bloomberg decided not to renew its deal with Business Broadcast News. BTVI got its COO Megha Tata in 2016 at the same time it got its new name. 

Television TV Channels News Broadcasting
http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2018/05/24/zeetv_0.jpg?itok=Pu75zUWg
Zee TV the leader amongst GECs

As per the recently released BARC HSM weekly data (Urban + Rural) for week 20 ’18, Zee TV has claimed the top position in Hindi GEC space with 316640 impressions in HSM and 199155 impressions in urban markets and saw a robust growth across its primetime fiction shows. The channel continued to be a...

Television TV Channels GECs
http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2018/05/24/zeetv_0.jpg?itok=Pu75zUWg
Zee TV the leader amongst GECs

As per the recently released BARC HSM weekly data (Urban + Rural) for week 20 ’18, Zee TV has claimed the top position in Hindi GEC space with 316640 impressions in HSM and 199155 impressions in urban markets and saw a robust growth across its primetime fiction shows. The channel continued to be a...

Television TV Channels GECs
http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2018/05/24/quint.jpg?itok=4S9HA15q
Bloomberg|Quint’s The Mutual Fund Show marks one successful year of educating viewers on personal finance

MUMBAI: India’s premier business and financial news company, has recently announced the completion of one successful year of its highly popular series ‘The Mutual Fund Show’. The feature, streamed across multiple platforms to a wide user base, provides critical guidance to India’s new generation...

Television TV Channels News Broadcasting

Latest News

Load More

Sign up for our Newsletter

subscribe for latest stories