Sillerman and Fuller in buyout bid

It wasn't so long ago that Simon Fuller sold his 19 Entertainment to CKX Inc. Now, he and CKX founder Bob Sillerman want to buy out the public shareholders and take the company private. They've offered 13.75 per share, which is a significant premium over yesterday's closing price of 10.63, and values the company at around 1.3 billion. The board of CKX had been considering the proposal before it was publicly disclosed late yesterday and will meet again today. CKX, through 19 Entertainment, owns the rights to "American Idol," its most lucrative property. CKX also owns the name, image and likeness of both Elvis Presley and Muhammad Ali.

Add to: del.icio.us | Digg