Simon Fuller: submitted, along with Barclays executive Roger Jenkins, a €488m bid for CKX, to whom he has continued to offer creative services since leaving the company

CKX, the owner of American Idol, confirmed that it received an acquisition proposal last week from an investor group led by Simon Fuller, the founder of 19 Entertainment and creator of the Idol TV series.

Fuller and former Barclays executive Roger Jenkins submitted a $600m (€488m) bid for CKX, said a person familiar with the situation, who declined to be identified because the matter is private. CKX is evaluating the proposal and other potential alternatives, according to its statement on Friday.

British-born Fuller (50) left CKX in January and has continued to offer creative services in exchange for $5m a year and 10% of the profit from TV shows American Idol, So You Think You Can Dance and If I Can Dream.

Fuller and former CKX chief executive Robert Sillerman (62) tried to take CKX private in 2007, dropping the $12-a-share bid in 2008.

CKX said there was no assurance a transaction would take place and didn't plan to make additional statements regarding the status of talks unless a definitive agreement was reached.

Fuller sold 19 Entertainment to Sillerman five years ago, part of the string of deals that created CKX. Sillerman, CKX's largest shareholder, resigned as chairman and chief executive on 7 May to pursue a possible takeover of the company, which also owns the rights to Elvis Presley's name and image.

Jenkins founded Elkstone Capital, the Dublin-based corporate finance and advisory firm, last year.

(Bloomberg)