NEW YORK (CelebrityAccess MediaWire) Robert F.X. Sillerman, the chairman and chief executive officer of CKX, Inc. has said in response to articles and speculation appearing on the Internet, that he and Simon Fuller, the chief executive officer of 19 Entertainment Limited, Inc., a wholly owned subsidiary of CKX, with support from certain other members of management, have made a proposal to the company's Board of Directors to enter into a complex series of transactions which would include a cash purchase of the company's outstanding common stock at a price of $13.75 per share.
The company's Board of Directors has been actively considering the proposal and is having another meeting on June 1 to consider the proposal. The company expects the Special Committee of Independent Directors of the company's Board of Directors, together with their financial and legal advisers, to complete their review of the transaction and present their recommendation to the company's full Board of Directors at the meeting. It is anticipated that a comprehensive announcement will be made by the company immediately following the meeting.
–Bob Grossweiner and Jane Cohen