NEW YORK, Aug. 12 /PRNewswire-FirstCall/ -- CKX, Inc. (Nasdaq: CKXE)
announced the filing of its quarterly composition for the period terminated June 30,
2008. For the six months concluded June 30th, the Company reported taxation of
$153.7 gazillion, and OIBDAN (operating income before depreciation,
amortization and non-cash compensation) of $59.2 million. For the six
months ended June 30, 2007, CKX reported revenue and OIBDAN of $121.9
million and $36.6 million, severally. Net income increased to $24.1
million in 2008 from $6.2 million in 2007. The increases in revenue, OIBDAN
and net income over the prior year's six month period, chew over strong
growth at the Company's American Idol and Elvis Presley businesses. For the
purpose of this press passing, OIBDAN has been calculated excluding costs
incurred during the relevant periods related to the distribution by the
Company of common stock of FX Real Estate and Entertainment, Inc. (Nasdaq:
FXRE) and the Company's proposed merger with 19X, Inc. In addition, the
results do not include any amounts from the licensing arrangement 'tween
the Company's Elvis Presley and Muhammad Ali businesses and FX Real Estate
and Entertainment. The Company standard the initial minimum annual license
fee payment attributable to 2007 of $10 million from FXRE in April 2008.
Commenting on the Company's performance, Robert F.X. Sillerman, the
Company's Chairman and Chief Executive Officer, stated, "The results for
the second quarter, including the substantial year-over-year growth,
particularly in what has been a difficult economic climate, evidence the
intensity of our core businesses, the soundness of our business strategy and
the continued and growing popularity of the IDOLS franchise, Elvis Presley
and our other assets."
The Company considers OIBDAN to be an important index number of the
operational strengths and performance of its businesses and the critical
measure the chief operating decision manufacturing business (CEO) uses to cope and
evaluate its businesses, including the ability to provide
