CKX chairman no longer interested in acquiring the company

By Lisa Kerner

Charlotte, N.C., Dec. 19 - CKX, Inc. announced that company chairman and chief executive officer Robert F.X. Sillerman, Simon R. Fuller and 19X, Inc. no longer intend to actively pursue an alternate transaction to acquire CKX.

Sillerman blamed the current economic difficulties and credit freeze, according to a form 8-K filed with the Securities and Exchange Commission.

It was previously reported that Sillerman paid a $37 million termination fee after his company, 19X, ended its amended merger agreement with CKX.

Sillerman doubted that his company could close the pending acquisition of CKX, a New York entertainment content developer, for $12 per share or by the transaction deadline, a prior news release said.

19X is a private company owned and controlled by Sillerman and Fuller, a director of CKX and the CEO of 19 Entertainment Ltd., a wholly owned subsidiary of CKX.

CKX also announced that its stockholders re-elected all 10 director nominees to the company's board of directors at the annual meeting held Thursday.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.