'American Idol' owner CKX ups Kraig Fox

Will serve as chief operating office, company announced

NEW YORK -- "American Idol" franchise owner CKX Inc. has promoted Kraig Fox to the position of chief operating officer, the company said Thursday.

Fox has been with CKX since its formation in 2005 as chief corporate development officer and executive vp. He will oversee all global operations, reporting to CEO Michael Ferrel.

"We have worked closely together for almost 16 years and I have the utmost trust and respect for Kraig," said Ferrel.

In mid-August, CKX CFO Tom Benson said a decision on a possible sale of the firm should come by late this year.

Founder Robert "FX" Sillerman, "Idol" creator Simon Fuller and JP Morgan Chase's private equity arm are among the parties that have looked at the company.