CKX Announces Strong Quarterly Results and Production of ABC's `Ugly Betty' moving to NYC

Share: 

City of Industry, CA --(www.USEquityNews.com)-- 05/13/2008 - Media entertainment industry alert provided by U.S. Equity News. CKX, Inc. (NASDAQ: CKXE), recently filed its quarterly report for the three months ended March 31, 2008, reporting revenue of $65.2 million, and OIBDAN (operating income before depreciation, amortization and non-cash compensation), excluding costs related to the distribution of common stock of FX Real Estate and Entertainment, Inc. and the proposed merger with 19X, Inc., of $26.6 million. For the quarter ended March 31, 2007, CKX reported revenue and OIDBAN of $49.6 million and $14.0 million, respectively. The increases in revenue and OIBDAN in the quarter ended March 31, 2008, reflects strong growth at the Company's American Idol, Elvis Presley and Beckham businesses. The results do not include any amounts from the licensing arrangement between the Company's Elvis Presley and Muhammad Ali businesses and FX Real Estate and Entertainment.


Norman Pearlstine, a former top editor at Time Inc. and The Wall Street Journal, is leaving The Carlyle Group for a senior editorial role at Bloomberg LP, the financial news and data provider announced Monday. Pearlstine had joined The Carlyle Group in September 2006, where he served as a senior adviser to the investment firm in media and telecommunications. At Bloomberg, Pearlstine will serve in the newly created role of chief content officer, where his responsibilities will include expanding Bloomberg's presence in television, radio, magazine and online. Before going to Carlyle, Pearlstine had been editor-in-chief of Time Inc., a major magazine publisher owned by Time Warner Inc. (NYSE: TWX), with broad oversight of Time Inc.'s titles including Time, People, Fortune and Sports Illustrated.

Production of ABC's "Ugly Betty" is moving to New York. The announcement was made recently by Mayor Michael Bloomberg, Governor David Paterson and ABC Studios President Mark Pedowitz. They say the show will take advantage of a 35 percent tax credit from the city and state when it makes the move from Los Angeles. "Ugly Betty" stars Emmy winner America Ferrera as Betty Suarez, a young woman from Queens who works for a fashion magazine. The comedy will be filmed in Manhattan and Queens. It is expected to create more than 200 full and part-time jobs.

EPIC Corporation (OTC: EPIO) (the "Company"), a multi-media communications and broadcasting company, announced that two shareholders have returned 15 Million shares of EPIC's common stock to the Company and the shares have been cancelled and returned to authorized but unissued shares. The issued and outstanding shares of the Company is now 11,262,023 shares. The Company, in exchange for the cancellation of the shares, agreed to issue the shareholders shares in the newly formed EPIC Communications Corp., a majority owned subsidiary of the Company, which is to become the multi-media communications and broadcasting operating company.

About U.S. Equity News

U.S. Equity News provides information, resources and news services for investors of small-cap, micro-cap and emerging companies. U.S. Equity News distributes RSS news feeds and a free subscription-based newsletter available through its website at www.usequitynews.com.

U.S. Equity News is a financial news distribution service by Equity Solutions, Inc. (www.equityirsolutions.com) that provides a platform for public companies to disseminate important news to key Wall Street interest such as shareholders and new investors. Equity Solutions, Inc. can assist by providing an effective increase in the awareness of a public company's news, development and corporate story through its proprietary network and its financial portal. U.S. Equity News and its affiliates charge each client cash for news distribution and may take an equity position in the companies mentioned herein, please visit the disclaimer at www.USEquityNews.com.

Contact Information:
U.S. Equity News
Tel: (626) 961-8039
Email: info@usequitynews.com

Comments:
Disclaimer: User Comments do not reflect the views of US Equity News, and we are not responsible for the content of users' comments. We also reserve the right to edit or delete comments to our discretion.

---