Simon Fuller group bids for 'Idol' owner

CKX valued at nearly $500 million

LONDON -- "American Idol" owner CKX on Friday confirmed it has received a buyout offer from an investor group led by "Idol" creator Simon Fuller.

The company said it is evaluating the offer along with other options.

Fuller sold his 19 Entertainment television production and talent management business to CKX for around $100 million.

The news came after shares in CKX shot up 33% in Nasdaq trading Friday, valuing the company at almost $500 million.

Fuller is thought to have joined up with former Barclays Capital dealmaker Roger Jenkins to amass a reported $1 billion fund to pursue sports and entertainment assets.

Three years ago Fuller attempted a $1.3 billion buyout bid for the company, in partnership with the then CKX chairman and CEO Bob Sillerman, but the deal fell foul of the collapsing credit markets.
comments powered by Disqus