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Media
Fuller may mount bid to buy CKX
By CMU Editorial | Published on Friday 28 May 2010
According to the Wall Street Journal, that Simon Fuller is in cahoots with a City type called Roger Jenkins to try to engineer a takeover of US entertainment firm CKX, the very company which bought Fuller’s 19 Entertainment enterprise and its ‘Idol’ franchise back in 2005.
After CKX bought the 19 empire Fuller had a role within the conglom, but earlier this year announced he would leave his full-time job there to set up a new stand-alone venture, but that he would continue to work on certain CKX projects (mainly the ones he’d created) on a consultancy basis.
In March, it was announced a consortium of equity types were considering taking over CKX, but that founder and CEO Robert FX Sillerman would keep his 21% stake and stay in the top job. I think Fuller’s takeover bid would compete with that one, and it’s not clear what would happen to Sillerman if the Fuller acquisition went ahead.
Billboard says that Fuller and his investment buddy Jenkins have put together a billion dollar pot of cash to buy CKX and other entertainment firms.
