Robert Sillerman has had his hands into a lot of entertainment properties and is the largest shareholder CKX (CKXE). He has now made an offer of $13.75 a share for the company which equals about $1.3 billion, so he can take it private.
CKX is the company that owns the rights to subsidiary 19 Entertainment, which manages American Idol, and also owns rights to the images of David Beckham, Muhammad Ali and Elvis Presley.
Simon Fuller who runs 19 Entertainment and used to manage the Spice Girls, is working with Sillerman on the deal.
IN 2005, Lisa Marie Presley sold the rights to CKX, along with the management of Graceland.
Sillerman has presented his offer to the company this morning to acquire the 97 million outstanding shares. He's ranked the 375th richest man in America.
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