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Private Equity Shop Apollo Weighs Bid For CKX

NEW YORK (CelebrityAccess MediaWire) — Another private equity investor may be preparing to toss their hats into the ring with a bid for "American Idol" owner CKX Inc.

According to The New York Post, Apollo Management has held meetings with two potential partners over developing a bid, including Mosaic Media Group CEO Allen Shapiro and CKX's former CEO Robert FX Sillerman. Sillerman, who founded CKX, resigned from the company in May, with plans to purchase the company and has since been in negotiation with potential financing partners.

Apollo is reportedly considering both an outright purchase of CKX or through debt financing.

Other interested investors include a potential bid by "Idol" creator Simon Fuller with partners Barclays. One Equity Partners, which is the private-equity arm of JPMorgan Chase have also reportedly been weighing a bid.

CKX closed the trading day at 5.02 with an overall market capitalization of $469.95 million. – CelebrityAccess Staff Writers