Sillerman said on Friday that he has made a $167 million deal with Fuller for the purchase of 19 Entertainment. Fuller and his creative team will reportedly remain involved with 19 Entertainment after the sale is concluded. 

The deal includes cash and stock. Fuller will reportedly receive $124.4 million in cash plus 1.87 million shares of CKX stock ($43 million at trading value on Friday). An additional $36.9 million in cash and/or stock is on the table is 19 Entertainment reaches financial targets for it's fiscal year ending in June. 

Sillerman is no stranger to big entertainment. He was the founder of SFX Broadcasting and SFX Entertainment. He sold off his radio arm SFX Broadcasting in 1997 for $2.1 billion and merged his concert promotion company SFX Entertainment with Clear Channel in a $4.4 billion deal in 2000. 

Sillerman made headlines in December when he purchased 85 percent of Elvis Presley Enterprises from the King's daughter, Lisa Marie Presley.

CKX will not only acquire the global "Idol" franchise with the purchase of 19 Entertainment but will also obtain lucrative recording and management contracts in the deal. 
 

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