Apollo Global Management, the private equity firm owned by Leon Black, has made a deal to buy CKX, parent company of 19 Entertainment, which produces Fox’s hit show American Idol.
The all-cash deal totaled $509 million, or $5.50 per share of CKX. That price is a 25 percent premium from where the stock closed Monday, and a 40 percent premium from CKX’s closing price over the past six months. CKX's board approved the deal and will recommend that shareholders back it.
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