“American Idol” creator Simon Fuller is launching a new entertainment company apart from 19 Entertainment, which remains a part of Bob Sillerman’s CKX Inc. Even so, CKX will invest in the new company and Fuller will continue to consult CKX.
“I am thrilled with this new arrangement with Simon. He is truly one of the most creative geniuses in the entertainment industry today. This new arrangement guarantees that Simon and CKX will be working together for many, many years to come. I’m also delighted that going forward Simon will be free to focus his creative energy on developing new ideas and projects and that CKX has the opportunity to invest in his new business,” said CKX CEO Sillerman.
“It has been an absolute pleasure over the past five years to have worked so closely with Bob. I feel honored to have learned so much from one of the world’s truly great business brains. This is the beginning of another important chapter in my life. As an entrepreneur I feel I am about to enter my prime years and starting a new entertainment company at this moment fills me with great excitement. Since its acquisition by CKX, 19 has achieved extraordinary success and I am delighted to be able to continue my relationship with Bob, the CKX team and all the properties that I have created,” said Fuller of the new arrangement.
The long term deal ensures that the American Idol creator and executive producer continues to executive produce and provide overall global executive direction to CKX’s hit television shows, American Idol and “So You Think You Can Dance” – and the new online led property “If I Can Dream” – in return for a share of profits.
RBR-TVBR observation: The key is mutual benefit. Fuller gets to do some new things and have a bigger personal stake in their success. But by remaining tied to CKX he will have access to the important intellectual property it owns. We’ve heard that Fuller’s new company will launch something utilizing the likeness, name and image of Elvis Presley, which is only possible via CKX. Likewise, CKX still has Fuller’s involvement in Idol and other existing projects, not to mention a stake in his future projects.