LONDON, March 19 (UPI) -- Simon Fuller, the creator of Britain's "Pop Idol" TV series that spawned "American Idol," has sold his company "19" to Sports Entertainment Enterprises.
Robert F. X. Sillerman's company, which is in the process of changing its name to CKX, bought 19 for $161 million in cash and 1.87 million in Sillerman's stock, the New York Times reported Saturday.
The stock of Sillerman's company, rose more than 58 percent, closing at $26.73 on Nasdaq, Friday.
Sillerman built SFX Entertainment into the largest concert promoter in the United States before selling it in 2000 to Clear Channel Communications for about $3 billion.
Fuller, who created the "Idol" franchise, will remain president of the company for six years.
In addition to owning the some 30 "Idol" franchises around the world, 19 manages the "Idol" winners and is a partner in a global joint venture with soccer star David Beckham and his wife, Victoria Adams Beckham, the former "Posh Spice" one of the Spice Girls, the girl band Fuller once managed.
