Industrial Media

Industrial Media, LLC (formerly CKX, Inc., and CORE Media Group, Inc.) is an American company founded on February 7, 2005 that owns and develops entertainment content and intellectual property.

Industrial Media, LLC
TypePrivate
IndustryEntertainment
Founded2005-02-07 (CKX, Inc., United States)
2012-05-31 (CORE Media Group, Inc.)
2018-08-06 (Industrial Media)
Headquarters6007 Sepulveda Blvd.
Van Nuys, CA
Key people
Dennis Miller, Chairman
Eli Holzman, CEO
Aaron Saidman, President
Scott Frosch, CFO
Productsentertainment content, intellectual property services, American Idol, So You Think You Can Dance
Owner
Number of employees
115
Subsidiaries
Websitewww.industrial-media.com

History

Sports Entertainment Enterprises, Inc. era

Before its founding in 2005, and during a period from 1986 to August 2002, the company operated a franchise of golf equipment, formerly known as Sports Entertainment Enterprises. In August 2002 the company sold all of its former assets. From September 2002 to February 2005, the company's main priority was to pursue a transaction with a business enterprise.

On March 25, 2005, Sports Entertainment Enterprises, Inc. d/b/a CKX, Inc.'s shareholders voted overwhelmingly to change the company's name to CKX, Inc., to change the company's state of incorporation from Colorado to Delaware, and to increase the number of the company's authorized shares of capital stock from 105,000,000 to 275,000,000. The company's common stock would continue to trade under the stock symbol CKXE.

CKx, Inc. era

In 2005, it bought British company 19 Entertainment from Simon Fuller, who subsequently joined the company's board. With the purchase, the company acquired a majority share of the rights to the Idol series, including American Idol and So You Think You Can Dance, as well as Pop Idol in Great Britain and numerous other international versions. Later that year it bought an entertainment agency, with artists on its roster such as Robin Williams, Billy Crystal and Woody Allen.

On February 7, 2005, the company bought 85% interest in the entities which own and/or control the commercial utilization of the name, image and likeness of Elvis Presley, the operation of the Graceland museum and related attractions, as well as revenue derived from Elvis Presley's television specials, films and certain of his recorded musical works, from the trust of Lisa Marie Presley.[1][2][3]

On April 11, 2006, CKX, Inc. announced it has acquired an 80% interest in the name and likeness of Muhammad Ali. The transaction included the rights to the name, image and likeness of Mr. Ali, certain trademarks owned by Mr. Ali and his affiliates and the rights to all existing Ali license agreements. Mr. Ali, through affiliates, would retain a 20% interest in the business, which will be operated through a newly formed company named G.O.A.T. LLC.[4]

On March 7, 2007, CKX, Inc. announced its subsidiary, Muhammad Ali Enterprises LLC, acquired approximately 11,000 photographs of boxer Muhammad Ali from photographer Ken Regan. The images would be immediately available for licensing and editorial purposes.[5]

On June 1, 2007, CKX, Inc. announced it entered into a series of transactions that would result in the sale of the Company at a price of $13.75 per share in cash and the distribution to CKX stockholders of shares in FX Luxury Realty, LLC, an affiliate of Robert F.X. Sillerman.[6] The total value for the takeover bid between Fuller and Sillerman would value the company at $1.3bn, but their attempt failed due to its timing coinciding with the start of the Global Credit Crunch.[7]

On May 7, 2010, CKX, Inc. announced Robert F.X. Sillerman had resigned as Chairman and Chief Executive Officer of the company and from the company's board, effective immediately.[8] Still holding 21% of the shares, he began working with One Equity Partners on a $550m-$560m takeover bid. In May, Fuller teamed up with former Barclays Capital executive Roger Jenkins, creating a $1Bn fund. They propose as their first purchase CKX, at a bid level of $600m. On the current share price, CKX is valued at $395m, with $101m of debt and $55m of cash at the end of first quarter 2010.[7] However, in 2010-10-27, CKx, Inc. announced it was no longer discussing a potential sale of the company or of a controlling stake in the company.[9]

On May 10, 2011, CKX, Inc. it has entered into a definitive merger agreement to be acquired by an affiliate of Apollo Global Management ("Apollo").[10] The company was to be sold in $5.50 per Common Share, for total $560 million.[11] In 2011-06-16, CKX Entertainment Offeror, LLC (f/k/a Colonel Offeror Sub, LLC) ("Offeror") and CKX, Inc. ("CKX") announced the successful completion of the acquisition offer of approximately 50,819,769 Common Shares, with offering period set to expire at 5:00 p.m., New York City time, on 2011-06-20.[12] In 2011-06-21, Offeror and CKX announced the successful completion of the tender offer by Offeror.[13]

On June 21, 2011, CKX Entertainment, Inc. and CKX, Inc. announced the successful completion of parent's acquisition of CKX, with parent being an acquisition entity controlled by investment funds managed by affiliates of Apollo Global Management, LLC.[14]

CORE Media Group, Inc. era

On May 31, 2012, CORE Media Group, Inc. announced its own launch in the same day, a newly branded version of the company formerly known as CKx.[15][16]

On November 19, 2013, it was announced that CORE Media Group had sold its stake in Elvis Presley Enterprises and Muhammad Ali Enterprises.[17][18]

On May 15, 2014, Apollo and 21st Century Fox announced a joint venture to combine 21st Century Fox's Shine Group and Apollo's Endemol and CORE Media Group.[19]

As a result of bankruptcy in 2016, CORE transferred assets to a new corporation, NEG Holdings LLC, which does business as CORE Media Group.

As CORE Media Group, they created the game-show Caraoke Showdown, along with Alevy Productions. The series aired in 2017 on Spike and was hosted by comedian and actor Craig Robinson. CORE recently created the wildlife animal rescue series Vet Gone Wild for Animal Planet, which began airing June 10, 2018. The show features veterinarian Dr. Chris Brown, well known for his Australian Vet Series Bondi Vet.[20]

On August 6, 2018, CORE Media Group announced the acquisition of The Intellectual Property Corporation, with immediate relaunching of the company as Industrial Media. Eli Holzman of The Intellectual Property Corporation would become IM's new CEO, while IPC's president and co-founder Aaron Saidman would become IM's president while also remaining in his current capacity as president of IPC, CORE's executive chairman Dennis Miller would become Industrial Media's chairman.[21][22][23]

Industrial Media era

In March 2019, Industrial Media announced an overall deal with nonfiction production company Momentum Content.[24]

Assets and holdings

Industrial Media's assets and holdings at present included:

Marketing

CKX

The "C" and "K" in "CKX" stood for "Content is King", representing the focus of the company's business strategy to acquire established content, and then to improve, enhance and develop the marketing of such content. The "X" takes an initial of founder Robert F.X. Sillerman, and is a trademark of many Sillerman companies, such as "SFX Entertainment" and "FXM Asset Management"

References
  1. "Company Overview". CKx, Inc. July 6, 2010.
  2. Glaister, Dan (December 17, 2004). "Elvis's estate all shook up by daughter's $100m deal" – via www.theguardian.com.
  3. "The Man Who Bought Elvis (Fortune, 2005) | Fortune". web.archive.org. February 29, 2020.
  4. "Investor Relations". CKx, Inc. July 14, 2006.
  5. "CKX Acquires Extensive Photo Archive of Muhammad Ali Images". CKx, Inc. January 6, 2009.
  6. "Robert F.X. Sillerman and Simon Fuller to Take CKX Private and Spin off Shares in Location-Based Entertainment Company to Stockholders". CKx, Inc. August 20, 2010.
  7. Andrew Edgecliffe-Johnson (May 28, 2010). "'American Idol' creator planning bid for CKX". Financial Times. Retrieved May 28, 2010.
  8. "Robert F.X. Sillerman Resigns as Chairman and CEO of CKx, Inc". www.prnewswire.com (Press release). CKx Inc.
  9. "CKx Announces Termination of Sale Discussions". CKx, Inc. October 2, 2011.
  10. "CKx, Inc. Agrees to be Acquired by an Affiliate of Apollo Global Management". CKx, Inc. May 14, 2011.
  11. "Affiliate of Apollo Global Management Launches $5.50 Net Per Share Cash Tender Offer For All Outstanding Shares of CKx, Inc". CKx, Inc. October 2, 2011.
  12. "Affiliate of Apollo Global Management and CKx, Inc. Announce Successful Tender Offer and Commencement of Subsequent Offering Period". CKx, Inc. October 2, 2011.
  13. "Affiliate of Apollo Global Management and CKx, Inc. Announce Completion of Subsequent Offering Period and Exercise of Top-Up Option". CKx, Inc. February 4, 2012.
  14. Affiliate of Apollo Global Management Completes Acquisition of CKX, Inc. Archived March 17, 2012, at the Wayback Machine ir.ckx.com Retrieved on April 19, 2012
  15. "CORE Media Group Launches With Focus On Creating, Managing And Cultivating Compelling, Original Content And Iconic Entertainment Brands". www.prnewswire.com (Press release). CORE Media Group.
  16. Andreeva, Nellie (May 31, 2012). "CKx Rebrands Itself As Core Media, Adds To Management Team Under Marc Graboff".
  17. "CORE Media Group Sells Elvis Presley Enterprises and Muhammad Ali Enterprises". www.paulweiss.com. Retrieved September 10, 2020.
  18. MassLive, The Associated Press | (November 20, 2013). "Elvis Presley merchandising, licensing rights sold". masslive. Retrieved September 10, 2020.
  19. 21st Century Fox & Apollo In Joint Venture Talks For Shine, Endemol And CORE Media Nancy Tartaglione. Deadline.com, Retrieved on May 18, 2014.
  20. "NEG HOLDINGS LLC". OpenGovUS.
  21. "CORE Media Acquires Intellectual Property Corp., Relaunches as Industrial Media". Industrial Media. August 6, 2018. Archived from the original on May 14, 2019.
  22. Otterson, Joe (August 6, 2018). "CORE Media Acquires Intellectual Property Corp., Relaunches as Industrial Media". Variety. Retrieved March 26, 2019.
  23. Andreeva, Nellie (August 6, 2018). "Core Media Acquires The Intellectual Property Corp; Relaunches As Industrial Media With IPC CEO Eli Holzman At Helm". Deadline. Retrieved March 26, 2019.
  24. Petski, Denise (March 20, 2019). "Momentum Content Inks Overall Deal With Industrial Media".
  25. Littleton, Cynthia (July 23, 2012). "Core Media acquires Sharp reality shop".
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