Sony Pictures Television Nonfiction: Difference between revisions

CKX, Inc. (Nasdaq: CKXE) is a company founded on February 7, 2005 that owns and develops entertainment content and intellectual property.

Background

The "C" and "K" stand for "Content is King", representing the focus of the company's business strategy to acquire established content, and then to improve, enhance and development the marketing of such content. The "X" takes the initial of founder Robert F.X. Sillerman. This is a trademark of many Sillerman companies, such as "SFX Entertainment" and "FXM Asset Management"

History

Before its foundation in 2005, and during the formation from 1986 to August 2002, the company operated a franchise of retail golf equipment, formerly known as Sports Entertainment Enterprises. In August 2002 the company sold all of its former assets. From September 2002 to February 2005, the company's main priority was to pursue a transaction with a business enterprise.

As a result, it began building a stake in the image rights of Muhammad Ali, now at an 80% level. In 2005, it bought British company 19 Entertainment from Simon Fuller, who subsequently joined the companies board. With the purchase, the company acquired a majority share of the rights to the Idol series, including American Idol and So You Think You Can Dance, as well as Pop Idol in Great Britain and numerous other international versions. That same year they bought an entertainment agency, that represents artistes, including Robin Williams, Billy Crystal and Woody Allen. In 2005, they bought 85% of the rights to the name, image and likeness of Elvis Presley, and the operations of Graceland, from the trust of Lisa Marie Presley.

In 2007, Fuller and Sillerman launched a takeover bid for CKX, valuing it at $1.3bn or $13.75 per share, but their attempt failed due to its timing coinciding with the start of the Global Credit Crunch.^[1]

Recent events

In February 2010, Sillerman resigned from CKX. Still holding 21% of the shares, he began working with One Equity Partners on a $550m-$560m takeover bid. In May, Fuller teamed up with former Barclays Capital executive Roger Jenkins, creating a $1Bn fund. They propose as their first purchase CKX, at a bid level of $600m. On the current share price, CKX is valued at $395m, with $101m of debt and $55m of cash at the end of first quarter 2010.^[1]

Assets and holdings

CKX's assets and holdings at present include:

• Global Rights - Elvis Presley - the rights to the name, image and likeness of Elvis Presley, and the operations of Graceland
• Majority Global Rights - Muhammad Ali - an 80% interest in the name, likeness, trademarks, and licensing agreements of Muhammad Ali including Ali's "Greatest Of All Time" (or G.O.A.T.) slogan
• 19 Entertainment - acquired from Simon Fuller in 2005 for $200 million. 19 owns, among other things, a share of the rights to the Idol series, including Pop Idol in Great Britain, American Idol in the United States, and numerous other international versions, and So You Think You Can Dance in the United States.
• Morra, Brezner, Steinberg & Tenenbaum Entertainment - purchased on 9 August 2005. MBST manages the careers of a number of Hollywood comedians, actors and directors. Clients include Robin Williams, Billy Crystal and Woody Allen. MBST has produced or co-produced a number of successful film and television including Arthur, Good Morning Vietnam, Throw Momma From the Train, The Vanishing, The Greatest Game Ever Played and Match Point.

References

External links

• CKX website