CKX Inc. (Nasdaq: CKXE), owner of the “American Idol” TV show franchise, confirmed that it is “engaged in discussions regarding a possible transaction involving the sale of the company.”
The WSJ reported on Saturday that One Equity Partners was in late-stage negotiations to buy CKX for around $6 per share, which would value the company’s equity at approximately $560 million.
In response to market rumors, CKX, Inc. (Nasdaq: CKXE) confirmed today that it is engaged in discussions regarding a possible transaction involving the sale of the company. CKX cautioned that there can be no assurance that it will enter into any agreement with respect to a transaction, or as to the timing, price or terms thereof, or that the price or terms in any such transaction will be as speculated.
CKX stated that it does not expect to make any additional statements or provide any further information regarding the status of any discussions or any possible transaction unless a definitive agreement is entered into or adopted.
About CKX, Inc.
CKX, Inc. is engaged in the ownership, development and commercial utilization of entertainment content. To date, the Company has focused on acquiring globally recognized entertainment content and related assets, including the rights to the name, image and likeness of Elvis Presley, the operations of Graceland, the rights to the name, image and likeness of Muhammad Ali and proprietary rights to the IDOLS television brand, including the American Idol series in the United States and local adaptations of the IDOLS television show format which, collectively, air in more than 100 countries. For more information about CKX, Inc., visit its corporate website at www.ckx.com.