CKX Issues Statement Correcting Factual Errors in Dow Jones Newswires Report

October 15, 2009 1:29 PM EDT

Company Is Not Undertaking Sale of Stock at This Time

NEW YORK--(BUSINESS WIRE)-- CKX, Inc. issued a statement this morning correcting the factual errors in an article that ran on the Dow Jones Newswires late in the afternoon on Wednesday, October 14. The Company clarified that it is not selling any shares of common stock to the public at this time. CKX noted that Robert F.X. Sillerman, the Company's Chairman and CEO, recently sold 7.85 million of his personally owned shares to a well-known investment fund at a price of $6.75 per share. In order to allow the purchaser to obtain shares that are freely tradable, the Company agreed to register the shares with the Securities and Exchange Commission. The registration statement that was filed on Wednesday, and on which the inaccurate Dow Jones Newswires report was apparently based, was merely registering the shares purchased from Mr. Sillerman. It did not indicate a sale by the Company of any shares of stock.

Further, the $6.26 per share price quoted in the Dow Jones report has no bearing on any sale price of CKX's stock. It has nothing to do with the price at which Mr. Sillerman sold the stock, which was $6.75 per share.

About CKX, Inc.

CKX, Inc. is engaged in the ownership, development and commercial utilization of entertainment content. To date, the Company has focused on acquiring globally recognized entertainment content and related assets, including 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.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of these securities in any State in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such State. This press release is being issued pursuant to and in accordance with Rule 135 under the Securities Act of 1933, as amended.

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    Source: CKX, Inc.

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