‘American Idol’ Creator Simon Fuller’s 2010 CKX Compensation: $14.2 Million
NEW YORK – 19 Entertainment founder and former CEO Simon Fuller received a compensation package worth more than $14 million from 19 owner CKX Inc. last year – handily exceeding the pay packages of other company executives even though he transitioned into an advisor role, according to a regulatory filing late Monday.
Fuller’s compensation for 2010 amounted to nearly $14.2 million, up from $2.5 million in 2009, the CKX filing shows.
The American Idol creator’s salary amounted only to $28,425, and he received no bonus. But nearly $2.3 million in severance and nearly $11.9 million of payments as part of a consulting agreement with 19 boosted his compensation.
Early last year, Fuller and CKX’s 19, which also produces So You Think You Can Dance, agreed to a long-term deal to keep the Idol creator involved in the firm's key shows, while freeing him up to launch a new entertainment company.
CKX owns two-thirds of the Idol brand, which it co-produces in the U.S. with Fremantle Media.
Former CKX chairman and CEO Robert “F.X.” Sillerman also benefited from leaving the firm. A $312,931 salary and no bonus were outweighed by nearly $3.4 million in severance that put the value of his total 2010 compensation at nearly $5.5 million. In 2009, he had earned nearly $1.9 million.
Current CKX chairman and CEO Michael Ferrel, who was appointed CEO only last May, earned close to $1.2 million in 2010, including a salary of $648,718 and a $400,000 bonus.