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Leading Hollywood Management Firm Joins CKX; CKX to Acquire MBST Entertainment.

NEW YORK -- CKX, Inc. (NASDAQ: CKXE) announced today that it has entered into a definitive agreement to acquire Morra, Brezner, Steinberg & Tenenbaum Entertainment, Inc. ("MBST") a leading manager of comedic talent and producer of motion pictures and television programming. In addition, CKX will enter into long-term employment relationships with the principals of MBST, Larry Brezner, David Steinberg and Steve Tenenbaum, who will continue to oversee the day-to-day operations of MBST.

MBST is a full service management company with a roster of more than 35 clients, representing an array of Oscar, Tony, Emmy and Grammy winning artists including Robin Williams, Billy Crystal and Woody Allen for more than 25 years each, jazz legend John Pizzarelli for 10 years, and comedian/writer Jeff Ross, comedian Jim Norton and Emmy award winning director Bob Weide, each for more than 3 years. MBST has had an advisory relationship with Apple Corps, the holding corporation for the Beatles, for more than 15 years, though Mr. Tenenbaum's relationship with Apple goes back more than 25 years. MBST also has had a relationship with Alain Boublil, the author of the Tony award winning Les Miserables, for more than 15 years. In addition to its management activities, MBST has been responsible for the production of numerous motion pictures and television productions over the years, including Arthur, Good Morning Vietnam, Throw Momma From the Train, The Vanishing and the soon to be released Disney motion picture, The Greatest Game Ever Played, based upon the best selling book by Mark Frost.

Commenting on the MBST acquisition, Robert F.X. Sillerman, Chairman and Chief Executive Officer of CKX said, "MBST is one of the oldest and most well respected artist management companies in Hollywood with long standing relationships with some of the most important names in American film and comedy. Larry, David and Steve have worked with their clients for many years to influence popular culture through comedy and films. I consider adding Larry, David and Steve a major addition to CKX and I am confidant that under the CKX umbrella MBST will continue to grow their business as well as help us take advantage of the shifting paradigm in the entertainment industry."

In a joint statement, the MBST principals added "Bob Sillerman is an entrepreneur who has successfully built unique businesses in the past and has always given back to the community. He has demonstrated with CKX that he is creating an artist friendly atmosphere in all areas of our business to encourage the creation of content and permit the creators to keep an ownership interest in their body of work. This will allow us the autonomy to continue to manage our client's careers as we have in the past while giving us the platform for the creation of new and innovative content. We are excited about being part of this burgeoning creative community."

For more detailed information see our Current Report on Form 8-K, which may be obtained at the SEC's web site at www.sec.gov.

About CKX

CKX, Inc. is engaged in the ownership, development and commercial utilization of entertainment content. To date, we have 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 and proprietary rights to the IDOLS television brand, including the American Idol series in the United States, the Pop Idol series in the United Kingdom and local adaptations of the IDOLS television show format which, collectively, air in over 30 countries around the world. We plan to continue to make strategic acquisitions of, or partner or align with, companies or individuals that control various forms of established entertainment content, which may include intellectual property rights in music, film, television programming, written works and characters, rights to names, images and likenesses, video games, corporate brands and other related assets.

This document includes certain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements are based on management's current expectations or beliefs, and are subject to uncertainty and changes in circumstances. Actual results may vary materially from those expressed or implied by the statements herein due to changes in economic, business, competitive, technological and/or regulatory factors, acquisitions of dispositions of business assets, and the potential impact of future decisions by management that may result in merger and restructuring charges, as well as the potential impact of any future impairment charges to goodwill or other intangible assets. More detailed information about these factors may be found in filings by CKX, Inc. with the Securities and Exchange Commission. CKX, Inc. is under no obligation to, and expressly disclaims any such obligation to, update or alter its forward-looking statements, whether as a result of new information, future events, or otherwise.
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Publication:Business Wire
Date:Jul 27, 2005
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