"American Idol" producer CKX Inc. (CKXE) agrees to sell itself to private equity firm Apollo Global Management (APO) for $5.50/share, in a deal that values the company at ~$509M. CKXE +22.9% premarket. (PR)
No idle move as CKX Entertainment (CKXE) jumps from a loss to an 8.8% gain in the closing minute - and is up another 4% AH, to $6.20 - as it's reportedly close to a $6/share buyout by J.P. Morgan's (JPM) private-equity unit. CKXE, owner of the "American Idol" franchise, has been subject to a back-and-forth battle for control.