Quantcast
CKX sells itself to Apollo

FROM GRACELAND TO APOLLO: CKX agreed to sell itself this morning to private equity firm Apollo Global Management in a deal valued at $509 million, the L.A. Times website reports. Apollo said it had the support of CKX founder and key shareholder Robert F.X. Sillerman, who is now a consultant to the company. Besides American Idol producer 19 Entertainment, founded but no longer owned by Simon Fuller, CKX operates Elvis Presley's Graceland and an 80% interest in licensing rights to the name and image of Muhammad Ali. Both Fuller and Sillerman had reportedly kicked the tires of the company last year, as had One Equity Partners, a private-equity arm of JP Morgan Chase that had teamed up with Hollywood veteran deal-maker and Mosaic Media head Allen Shapiro. More recently, the Gores Group made an offer that the CKX ignored. Under the terms of the deal, CKX shareholders will get $5.50 per share. The board said it would recommend that its shareholders accept the offer. (5/10a)

STRINGER ON "THE ISSUES AND ACTIONS NEEDED"
Sony Music is all in. (5/31a)
"REAL AND CONSTRUCTIVE CHANGE": SIR LUCIAN SPEAKS OUT
UMG is all in. (5/31a)
RAPINO: SUPPORTING BLACK CULTURE, ANTI-RACISM
Live Nation is all in. (5/30a)
WMG ON COPING WITH THE MOMENT
Warner Music is all in. (5/30a)
ARTISTS MAKE THEIR VOICES HEARD
The stars are coming out. (5/31a)
SHORT WEEK
Enjoy being even more confused by the calendar.
BLACK MUSIC MONTH
Celebrating the music that fuels the biz.
INSTACART
Dammit, we said DILL pickles!.
TRUMP SAID WHAT, NOW?
Just wondering if you still give a fuck.
 Email

 First Name

 Last Name

 Company

 Country
CAPTCHA code
Captcha: (type the characters above)