LONDON (CelebrityAccess MediaWire) — 19 Entertainment may be preparing to wind down operations at the company's London office and staff have been warned to expect possible layoffs, according to Nikki Finke's Deadline Hollywood.
The wind-down may indicate that 19 Entertainment's parent company CKX is pruning expenses ahead of plans to divest 19 Entertainment, either by putting it's assets up for bid or by selling it back to he company's founder, Simon Fuller.
19 Entertainment produces the highly-popular television show "American Idol" and delivered $92 million in profit for CKX in 2009 as well as managing high profile celebrities such as Victoria and David Beckham, Annie Lennox and Kelly Clarkson. In addition, 19 Entertainment founder Simon Fuller announced last month that he was launching a new entertainment company that would be partnering with CKX on a number of projects and his newest show, "If I Can Dream" is being carried exclusively by television streaming website Hulu. – CelebrityAccess Staff Writers