Robert F.X. Sillerman, the media mogul and founder and chief executive of CKX — the company that owns “American Idol” and "So You Think You Can Dance" producer 19 Enterainment — resigned on Friday.
In a twist, Sillerman said the reason for his resignation was “a desire to pursue other interests, including the possible acquisition of CKx.” He was not immediately available for comment.
In March, CKx was reportedly in sale talks with with private equity firm One Equity Partners. According to the New York Times’ Dealbook, "a takeover of CKX by Mr. SIllerman and One Equity was valued at about $558 million."
Sillerman, the former proprietor of concert production company SFX Entertainment, founded the CKx in 2005 and has served as its chairman and CEO ever since. He is also the company’s largest single shareholder.
In Sillerman’s place, former CKx president Michael Ferrel has been appointed acting CEO, and Edward Bleier, a former Warner Bros. executive, as chairman.
In addition to "Idol," the company owns the rights to Muhammad Ali and Elvis Presley’s name, image and likeness, and also operates Graceland.
