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Monday, July 26, 2010

New Label for Idol?

NEW LABEL FOR IDOL? The N.Y. Post is reporting that American Idol creator Simon Fuller is in talks with other labels after the apparent expiration of Sony Music’s longstanding agreement to provide recording deals for the show’s winning contestants. One source said the Sony deal ran out with the conclusion of season nine, which finished its TV run in May. Sony's Idol agreement is with CKX Inc., which owns Idol production company 19 Entertainment and is currently in play among several suitors, including former CEO Robert Sillerman and JP Morgan’s One Equity Partners bid with Allen Shapiro. The deal is up at a time when sales totals for Idol winners are lower than ever. The story suggests UMG might be another option for Fuller, given his relationship with fellow Brit Lucian Grainge, the company’s new co-CEO. (7/26a)

 
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