Circle Entertainment, Inc. 8-K 2008
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): November 1, 2008
FX REAL ESTATE AND ENTERTAINMENT INC.
(Exact name of registrant as specified in charter)
Registrants telephone number, including area code: (212) 838-3100
(Former Name or Former Address, if
Changed Since Last Report)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
Item 7.01. Regulation FD Disclosure
The following information is furnished herewith:
As previously disclosed, on March 3, 2008, FX Real Estate and Entertainment Inc. (the Company) entered into a Call Agreement (the Option Agreement) with 19X, Inc. (19X), pursuant to which, in consideration for annual option payments totaling $105 million, FXRE was granted the right to acquire an 85% interest in the Elvis Presley business currently owned and operated by CKX, Inc. (CKX) through its Elvis Presley Enterprises subsidiaries (EPE) at an escalating price over time. The effectiveness of the Option Agreement was conditioned upon the closing of the merger between CKX and 19X.
CKX, Inc. (CKX) has announced that, on November 1, 2008, the merger agreement between CKX and 19X was terminated. As a result, the Option Agreement has terminated and thereafter will have no force and effect. Due to the termination of the Option Agreement, the Company no longer has any right to acquire the 85% interest in the Elvis Presley business held by EPE or any obligation to make the annual option payments to 19X.
In addition, the previously disclosed agreement between the Company and 19X, dated as of March 3, 2008, to amend the License Agreement between EPE and the Company (the License Amendment) has also terminated and will have no further force and effect, as the effectiveness of the License Amendment was also conditioned upon the closing of the merger between CKX and 19X.
Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.
DATE: November 5, 2008