Robert Sillerman Resigns As Chairman Of CKX

[Jungleroom76]

From ElvisNews.com:

CKx, Inc. announced today that Robert F.X. Sillerman has resigned as Chairman and Chief Executive Officer of the Company and from the Company’s board, effective immediately. Mr. Sillerman cited as the reason for his resignation a desire to pursue other interests, including the possible acquisition of CKx as well as a desire to allow the Board to evaluate its strategic options should he pursue such an acquisition. Mr. Sillerman founded the Company and has served as its Chairman and Chief Executive Officer of the Company since its inception in 2005. Mr. Sillerman will continue as a consultant to the Company. Mr. Sillerman is also the Company’s largest shareholder.

The board of directors of the company announced that director Edward Bleier was appointed as chairman of the board and that Michael G. Ferrel, a former director and president of the company, will serve as acting chief executive officer. The board would like to thank Bob for his many contributions to CKx and for his leadership over the past five years and his unparalleled commitment to the company,” said CKx chairman Edward Bleier. “Bob has a long track record of building several successful enterprises and providing billions of dollars in return to investors. We’re thrilled that Bob will continue to assist CKx as a consultant.”

Michael G. Ferrel, acting chief executive officer of CKx stated, “CKx has an excellent set of core assets that continue to be terrific performers for the company. I look forward to working with the board and management team to drive growth and to capitalize on the many opportunities ahead.” The company also stated that it presently intends to release its first quarter earnings on Monday, May 10, and plans to host an investor call following the release.

Edward Bleier has served on the CKx board of directors since 2005. Mr. Bleier is a director of RealNetworks, Inc., a leading Internet creator of digital media services and software. For 34 years, until his retirement as Senior Advisor in December 2003, Mr. Bleier was an executive of Warner Bros., Inc. From 1986 through 2000, he was President of the division responsible for broadcast and cable networks, pay-television and video-on-demand. He also previously served on Warner Communications’ strategy committee, as President of Warner Bros. Animation, and overseeing the broadcast of certain sports properties. In May 2005, Mr. Bleier was appointed to the Board of Directors of Blockbuster, Inc. Mr. Bleier is currently a trustee of The Charles A. Dana Foundation, a member of the Advisory Board of Drakontas, Inc. and a member of the Council on Foreign Relations.

Michael G. Ferrel served as President, director and Member of the Office of the Chairman of CKX from May 2005 through November 2008. From August 2000 through May 2005, Mr. Ferrel served as President and Chief Executive Officer of FXM, Inc., a private investment firm. Mr. Ferrel served as President, Chief Executive Officer, Member of the Office of the Chairman and a director of SFX Entertainment, the largest owner and operator of venues for live entertainment in the United States (now a subsidiary of Live Nation) from December 1997 through August 2000.


I wonder what this will mean for the Graceland redevelopment project??? This certainly can't be a good sign...

TCB!
Mike

[Getlo]

Don't let the door hit your arse on the way out, Bob.

Thanks for coming.

Adios.

[franny]

I wonder what this will mean for the Graceland redevelopment project??? This certainly can't be a good sign...

TCB!
Mike

I wonder the same thing, Mike. And it seems unexpected, since there was so much talk about the Graceland redevelopment project...who knows what will come of it now.

Thanks, for posting the info Mike.

franny

[vivaelvis]

There's nothing to worry about here. All that Robert Sillerman's doing is resigning from his CEO position to make a bid to buy it himself to take it private. This will NOT affect the plans for Graceland. Trust me on that. If anything it'll benefit them.

[TCB81975]

EPE should have never left the hands of the Presley family,imo. What does this mean for the future of EPE and Graceland as a whole?

[debtdbruno]

Don't let the door hit your arse on the way out, Bob.

Thanks for coming.

Adios.

good one Getlo

[Jungleroom76]

I wonder the same thing, Mike. And it seems unexpected, since there was so much talk about the Graceland redevelopment project...who knows what will come of it now.

Thanks, for posting the info Mike.

franny

My pleasure franny!!

TCB!
Mike

[Jungleroom76]

There's nothing to worry about here. All that Robert Sillerman's doing is resigning from his CEO position to make a bid to buy it himself to take it private. This will NOT affect the plans for Graceland. Trust me on that. If anything it'll benefit them.

Wasn't it a private company not long ago and then it went public??

I'll admit I'm not sure of all the details, but I thought the company was private and then there was some sort of transaction or merger which took the company public...now he's trying to take it private again?? Seems confusing to me...

TCB!
Mike

[Jungleroom76]

Don't let the door hit your arse on the way out, Bob.

Thanks for coming.

Adios.

Have to say I agree with you on this one Getlo!! I wasn't overly impressed with him either!

TCB!
Mike

[vivaelvis]

Wasn't it a private company not long ago and then it went public??

I'll admit I'm not sure of all the details, but I thought the company was private and then there was some sort of transaction or merger which took the company public...now he's trying to take it private again?? Seems confusing to me...

TCB!
Mike

No. It's always been a public company, hence it's appearance on the NASDAQ. They tried to go private on several accounts but failed. Robert Sillerman's not out of the Elvis picture by a long shot. He's just stepping down from his position as the CEO of the company. He still owns 85% of EPE and the naming rights. He paid for the licensing out of his own pocket. I would expect him now to downside the plans for Graceland, for now, and put his own money into what they feel is a priority. A new visitor's center is their main focus right now. Most likely the hotel and convention space will come down the road.

[Jungleroom76]

No. It's always been a public company, hence it's appearance on the NASDAQ. They tried to go private on several accounts but failed. Robert Sillerman's not out of the Elvis picture by a long shot. He's just stepping down from his position as the CEO of the company.

Thanks for the info.!!! I knew there was some talk about the company being private, but just had my facts mixed up...

TCB!
Mike

[KPM]

Nice post Getlo My feelings exactly.

[vivaelvis]

Nice post Getlo My feelings exactly.

That sums up everything. I now see why you've been so pessismistic about Sillerman on here.

[KPM]

That sums up everything. I now see why you've been so pessismistic about Sillerman on here.

I do not have a positive view of him-now......today..........5 plus years since he made his purchase (6 plus years since he probably began exploring the possibility).......but that was not the case back when he first made the purchase
I did say lets give him a chance to show his expertise and we will see what happens as it happens....................well we have seen over the 5 plus years IMO some bungling and some failures in planning all the way up to today............... and the positive view has pretty much left me. Time will tell as it always does.