(CelebrityAccess MediaWire) –CKX, Inc., which recently priced a sale of 20 million common shares at $11 per share, has been added to the Russell 3000 Indexes, effective at the close of the US equity markets on June 24, 2005.
"We are proud to be able to announce the addition of CKX to the Russell Indexes
at this early stage in our company's development," said Robert F.X. Sillerman,
chairman and CEO of CKX. "We believe the increased investor
awareness of our company will benefit all of our stockholders."
Russell indexes are widely used by investment managers and institutional
investors for index funds and as benchmarks for both passive and active
investment strategies. More than $2.5 trillion in assets currently are
benchmarked to them. Investment managers who oversee these funds purchase shares
of member stocks according to that company's weighting in the particular index.
Annual reconstitution of Russell indexes captures the 3,000 largest U.S. stocks
as of the end of May, ranking them by total market capitalization to create the
Russell 3000.
CKX is involved in various forms of established entertainment content. It recently acquired the rights to the name,
image and likeness of Elvis Presley, the operations of Graceland and proprietary
rights to the IDOLS television brand, including the American Idol TV series in the
United States, the Pop Idol series in the United Kingdom and local adaptations
of the IDOLS television show format which, collectively, air in over 30
countries around the world. — Jane Cohen and Bob Grossweiner
