NEW YORK, Oct. 27 /PRNewswire-FirstCall/ -- CKx, Inc. (Nasdaq: CKXE) announced today that it was no longer discussing a potential sale of the Company or of a controlling stake in the Company. While the Board was contacted by a number of potential parties and received and reviewed several expressions of interest in an acquisition of the Company or a controlling interest in the Company, the Board did not receive any proposals that it felt were in the best interests of shareholders. Accordingly, the Board determined to discontinue discussions and intends to continue to operate the company on a stand-alone basis.
Michael G. Ferrel, the Chief Executive Officer of the Company, said, "With the conclusion of sale discussions, we are excited to continue driving growth through our terrific set of core assets and improving the overall profitability of the Company. We look forward to building on the major progress we have already made in our restructuring of 19 Entertainment and creating value for our shareholders."
About CKx, Inc.
CKx, Inc. is engaged in the ownership, development and commercial utilization of entertainment content. The Company's current properties include 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.
Forward Looking Statements
This document contains forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements are those that predict or describe future events or trends and that do not relate solely to historical matters. You can generally identify forward-looking statements as statements containing words such as "intends," or other similar expressions, although not all forward-looking statements contain these identifying words. You should not place undue reliance on our forward-looking statements, as the matters they describe are subject to known and unknown risks, uncertainties and other unpredictable factors, many of which are beyond our control. These risks include the fact that the Board or the Company could reconsider its alternatives and other risks detailed in the Company's annual report on Form 10-K, quarterly reports on Form 10-Q, and current reports on Form 8-K. Our forward-looking statements are based on the information currently available to us and speak only as of the date of this press release. We expressly disclaim any obligation to issue any updates or revisions to our forward-looking statements, even if subsequent events cause our expectations to change regarding the matters discussed in those statements.
SOURCE CKx, Inc.