| CKX, Inc. issued a statement this morning correcting the factual errors in an article that ran on the Dow Jones Newswires late in the afternoon on Wednesday, October 14. The Company clarified that it is not selling any shares of common stock to the public at this time. CKX noted that Robert F.X. Sillerman, the Company’s Chairman and CEO, recently sold 7.85 million of his personally owned shares to a well-known investment fund at a price of $6.75 per share. In order to allow the purchaser to obtain shares that are freely tradable, the Company agreed to register the shares with the Securities and Exchange Commission. The registration statement that was filed on Wednesday, and on which the inaccurate Dow Jones Newswires report was apparently based, was merely registering the shares purchased from Mr. Sillerman. It did not indicate a sale by the Company of any shares of stock. Further, the $6.26 per share price quoted in the Dow Jones report has no bearing on any sale price of CKX's stock. It has nothing to do with the price at which Mr. Sillerman sold the stock, which was $6.75 per share. :theflyonthewall.com |
