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Monday
June 4, 2007
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Sillerman Plans Celebrity-Branded Hotels For CKX

Ali-Themed Hotel Among Sillerman's Plans
CKX Inc. Chair & CEO Robert Sillerman's plan to take the company private for $13.75 per share will "provide shareholders with a piece of a new publicly traded real-estate entity that will develop hotels based on celebrity images," according to Ethan Smith of the WALL STREET JOURNAL.  CKX' major holdings include rights related to Muhammad Ali, Elvis Presley, David Beckham and 19 Entertainment, the British company behind the "American Idol" franchise.  The "first project is set to start shortly" in Las Vegas, where the company plans to develop Presley- and Ali-themed properties (WALL STREET JOURNAL, 6/2).  Sillerman said that he "decided to go private, in part, because many CKX investors liked owning rights to pop culture icons but 'didn't want us to spend the capital' to build the themed facilities."  USA TODAY's David Lieberman added that some celebrities "didn't want to sell rights to their names and images to a public CKX because it would require them to disclose detailed financial data."  If the deal closes, 19 Entertainment CEO Simon Fuller will be CEO of CKX and Sillerman will be Chair (USA TODAY, 6/4).

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