'Idol' Owner Settles With Investors Over $512M Sale

Law360, New York (June 8, 2011, 6:10 PM EDT) -- Shareholders of CKx Inc., which owns "American Idol" and the images of Elvis Presley and Muhammad Ali, said Tuesday they had settled consolidated class actions in Delaware over the company's nearly $512 million sale to Apollo Management LLC.

In a memorandum of understanding, the plaintiffs said they had agreed to release their claims against CKx, its directors, Apollo and other defendants. In return, the defendants agreed to cut the termination fee for the deal down to $17.5 million from $20 million and to disclose certain information...
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