Alec Gores, who was part of a group that made an unsuccessful bid for Miramax, has his eye on another media biggie: CKX Inc, which owns most of American Idol. Bloomberg is reporting today that the unsolicited offer came March 23 but had no other details. CKX had been on the block to sell but withdrew those plans five months ago. The company, which owns two-thirds of Idol with FremantleMedia, reported a $15.7M loss and a 17% drop in revenue earlier this month, mostly owing to the winding-up costs of shrinking Idol creator Simon Fuller’s 19 Entertainment.
Alec Gores Makes Unsolicited Offer To Buy 'Idol' Owner CKX
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