CKX, Inc. issued a statement this morning correcting the factual errors
in an article that ran on the Dow Jones Newswires late in the afternoon
on Wednesday, October 14. The Company clarified that it is not selling
any shares of common stock to the public at this time. CKX noted that
Robert F.X. Sillerman, the Company’s Chairman and CEO, recently sold
7.85 million of his personally owned shares to a well-known investment
fund at a price of $6.75 per share. In order to allow the purchaser to
obtain shares that are freely tradable, the Company agreed to register
the shares with the Securities and Exchange Commission. The registration
statement that was filed on Wednesday, and on which the inaccurate Dow
Jones Newswires report was apparently based, was merely registering the
shares purchased from Mr. Sillerman. It did not indicate a sale by the
Company of any shares of stock.
Further, the $6.26 per share price quoted in the Dow Jones report has no
bearing on any sale price of CKX's stock. It has nothing to do with the
price at which Mr. Sillerman sold the stock, which was $6.75 per share.
About CKX, Inc.
CKX, Inc. is engaged in the ownership, development and commercial
utilization of entertainment content. To date, the Company has focused
on acquiring globally recognized entertainment content and related
assets, including the rights to the name, image and likeness of Elvis
Presley, the operations of Graceland, the rights to the name, image and
likeness of Muhammad Ali and proprietary rights to the IDOLS television
brand, including the American Idol series in the United States
and local adaptations of the IDOLS television show format which,
collectively, air in more than 100 countries. For more information about
CKX, Inc., visit its corporate website at www.ckx.com.
This press release shall not constitute an offer to sell or the
solicitation of an offer to buy nor shall there be any sale of these
securities in any State in which such offer, solicitation or sale would
be unlawful prior to registration or qualification under the securities
laws of any such State. This press release is being issued pursuant to
and in accordance with Rule 135 under the Securities Act of 1933, as
amended.
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