CKX Inc. announced its 19 Entertainment unit reached a contract extension with “American Idol” host Ryan Seacrest. He will reportedly receive a total of $30 million for the next three seasons (thru 2012), as well as a $7.5 million signing bonus. In addition, 19 Entertainment paid $15 million last week for all Seacrest’s marketing rights related to Idol.
The partnership will provide the opportunity for Seacrest and his wholly owned Ryan Seacrest Productions banner (RSP) to work together with Idol creator Simon Fuller on new entertainment endeavors in addition to Idol.
Seacrest comments: “I’m truly appreciative of being part of a show that has had such an enormous impact on popular culture across all ages. I look forward to expanding the relationship with Simon Fuller and Bob Sillerman, who share the same visionary approach to entertainment media that I strive for with every project.”
Said Sillerman, CKX CEO: “Ryan Seacrest is a unique talent, who has proven to be an integral element of the success of ‘Idol.’ With this transaction we not only guarantee Ryan’s participation in ‘Idol,’ but also align ourselves with one of the most energetic and professional new talents to have come along in years. We fully expect this to be just the first of many collaborations with Ryan.”
