CKX receives $37 million termination fee from 19X; Sillerman still interested in acquisition

By Lisa Kerner

Charlotte, N.C., Nov. 24 - 19X, Inc.'s Robert F.X. Sillerman intends to pursue an alternate transaction for the acquisition of CKX, Inc. even after paying a $37 million termination fee after his company ended its amended merger agreement with CKX, according to a form 8-K filed with the Securities and Exchange Commission.

Sillerman delivered 3,339,350 shares of CKX common stock, valued at $11.08 per share, and a cash payment of $500,000 to CKX, the filing said.

In September, it was reported that Sillerman doubted that his company could close the pending acquisition of CKX, a New York entertainment content developer, for $12.00 per share or by the transaction deadline.

19X is a private company owned and controlled by Sillerman, the chairman and chief executive officer of CKX, and Simon R. Fuller, a director of CKX and the CEO of 19 Entertainment Ltd., a wholly owned subsidiary of CKX.

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