Photo: Courtesy of Apollo Group
In a deal that became official today, Leon Black‘s Apollo Global Management paid $510 million to acquire CKX, the company that owns the rights to “American Idol.”The pop culture fun doesn’t stop there.
CKX also owns another Fox hit, “So You Think You Can Dance,” and the licensing rights to both Elvis Presley and Muhammad Ali.
The CKX asset that spawned “Idol” — 19 Entertainment, founded by Simon Fuller — produces a score of smaller shows in markets all over the world.
Their credits include the American version of “Little Britain,” a Victoria Beckham reality series and a documentary on The Spice Girls.
And the deal scores Black one big physical asset: Graceland, the Presley manor that hosts 700,000 visitors per year and pumps $150 million into the Memphis economy annually.
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