Media
The parent company of 19 Entertainment, CKX, has agreed to a $1.3 billion takeover deal from US tycoon Robert Sillerman and Pop Idol creator Simon Fuller.
CKX shareholders will get $13.75 per share in cash as well as shares in FX Luxury Realty, an affiliate of Sillerman that has real estate interests in Las Vegas.
The sale, through a merger with 19X, a private firm owned by Sillerman and Fuller, will be financed through a combination of equity and debt financing, with cash also coming from Sillerman and Fuller's own pockets.
As well as owning 19 Entertainment, CKX has exclusive talent deals with David and Victoria Beckham, Rachel Stevens, Will Young, Claudia Schiffer, Annie Lennox and Emma Bunton. The firm also owns a controlling interest in Elvis Presley Enterprises and owns certain rights to the names and images of Elvis Presley and Muhammad Ali.
Under the deal, FX Luxury Realty has signed licences to use certain intellectual property rights of CKX associated with Presley and Ali in the development of real estate and attraction-based projects.
CKX shareholders will get $13.75 per share in cash as well as shares in FX Luxury Realty, an affiliate of Sillerman that has real estate interests in Las Vegas.
The sale, through a merger with 19X, a private firm owned by Sillerman and Fuller, will be financed through a combination of equity and debt financing, with cash also coming from Sillerman and Fuller's own pockets.
As well as owning 19 Entertainment, CKX has exclusive talent deals with David and Victoria Beckham, Rachel Stevens, Will Young, Claudia Schiffer, Annie Lennox and Emma Bunton. The firm also owns a controlling interest in Elvis Presley Enterprises and owns certain rights to the names and images of Elvis Presley and Muhammad Ali.
Under the deal, FX Luxury Realty has signed licences to use certain intellectual property rights of CKX associated with Presley and Ali in the development of real estate and attraction-based projects.
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