CKX Reports Q3
Robert Sillerman’s CKX Inc. released its quarterly report for the three months ending September 30th, showing significant jump in revenue from the same quarter a year ago. It also has seen a significant jump in operating expenses.
Revenue increased to almost $60 million compared to $12.7 million in the period ending September 30, 2004. The more than $47 million increase is attributable to the revenue generated by one of CKX’s major buy-outs,
Operating expenses climbed to nearly $55 million from the $9.2 million of a year ago – again, attributed to 19 Entertainment for the most part.
Net income for the quarter was $1.2 million.
CKX also recently purchased MBST – aka,
At press time, it appeared 19 Entertainment would be heading to court with record exec Simon Cowell, known to most of the world as the mean judge on “American Idol” and Britain’s “Pop Idol.” Cowell has developed a show called “X-Factor,” with a format that 19 Entertainment believes was lifted from “Idol,” according to The New York Times. If the two parties refuse to settle, the cash cow that is the “Idol” series will be at risk, the paper said.
CKX is currently trading in the $11 a share range. It was a penny stock and then reached a zenith of more than $30.