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UNITED STATES SECURITIES AND
    EXCHANGE COMMISSIONWashington, D.C.
    20549
 Form 10-K
  þ

ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE
    SECURITIES EXCHANGE ACT OF 1934For the fiscal year ended
    December 31, 2007ORo

TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE
    SECURITIES EXCHANGE ACT OF 1934For the transition period
    from          to   Commission File
    No. 000-17436
  CKX, INC.
 (Exact name of Registrant as
    specified in its charter)
  Delaware

27-0118168(State or other jurisdiction
    of
    incorporation or organization)

(I.R.S. Employer
    Identification Number)  650 Madison Avenue
 New York, New York 10022
 (Address of Principal Executive
    Offices and Zip Code)
  Registrants Telephone Number, Including Area Code:
    (212) 838-3100
  Securities Registered Pursuant to Section 12(b) of the
    Act: None
  Securities Registered Pursuant to Section 12(g) of the
    Act:
  Common Stock, Par Value $0.01 Per Share
  o þ
  o þ
  þ o
  Regulation S-K Form 10-K Form 10-K. o
  Rule 12b-2
  Large
    accelerated
    filer o
    Accelerated
    filer þ
    Non-accelerated
    filer o
    Smaller
    reporting
    company o (Do
    not check if a smaller reporting company)
  Rule 12b-2 o þ




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##### 





CKX,
    Inc.
  Annual
    Report on
    Form 10-K
  December 31,
    2007
  PagePART IItem 1.


Business


1Item 1A.


Risk Factors


17Item 1B.


Unresolved Staff Comments


25Item 2.


Properties


25Item 3.


Legal Proceedings


25Item 4.


Submission of Matters to a Vote of Security
    Holders


26PART IIItem 5.


Market for Registrants Common Equity,
    Related Stockholder Matters and Issuer Purchase of Equity
    Securities


27Item 6.


Selected Financial Data


28Item 7.


Managements Discussion and Analysis of
    Financial Condition and Results of Operations


31Item 7A.


Quantitative and Qualitative Disclosures About
    Market Risk


57Item 8.


Financial Statements and Supplementary Data


59Item 9.


Changes in and Disagreements with Accountants on
    Accounting and Financial Disclosure


102Item 9A.


Controls and Procedures


102Item 9B.


Other Information


102PART IIIItem 10.


Directors, Executive Officers and Corporate
    Governance


103Item 11.


Executive Compensation


103Item 12.


Security Ownership of Certain Beneficial Owners
    and Management and Related Stockholder Matters


103Item 13.


Certain Relationships, Related Transactions, and
    Director Independence


103Item 14.


Principal Accounting Fees and Services


103PART IVItem 15.


Exhibits and Financial Statement Schedules


104EX-10.11: AMENDED AND RESTATED EMPLOYMENT AGREEMENT WITH ROBERT F.X. SILLERMANEX-10.14: AMENDED AND RESTATED EMPLOYMENT AGREEMENT WITH THOMAS P. BENSONEX-10.29: AMENDMENT NO. 1 TO THE ELVIS PRESLEY ENTERPRISES, INC. LICENSE AGREEMENTEX-10.31: AMENDMENT NO. 1 TO THE MUHAMMAD ALI ENTERPRISES LLC LICENSE AGREEMENTEX-21.1: LIST OF SUBSIDIARIESEX-23.1: CONSENT OF DELOITTE & TOUCHE LLP RELATING TO CKX, INC.EX-23.2: CONSENT OF DELOITTE & TOUCHE LLP RELATING TO THE PRESLEY BUSINESSEX-31.1: CERTIFICATIONEX-31.2: CERTIFICATIONEX-32.1: CERTIFICATIONEX-32.2: CERTIFICATION




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PART I  ITEM 1.
    BUSINESS  Form 10-K
  Overview
  American
    Idol American Idol
  Merger
    Transaction
    Description
    of Merger Offer
         1




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Affiliated
    Elements of Transaction
    Approval
    Process
    Presley
    Business
  and/or
 2




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and/or
  ® ®
    Licensing
    and Intellectual Property
  Music
    Rights
       3




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Name,
    Image and Likeness
      Television/Video
  two-hour four-hour two-hour
  Motion
    Pictures
      Licensing
    FX
    Real Estate and Entertainment License Agreement
    Grant
    of Rights
   4




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and/or
  Elvis
    Presley Experiences
  CityCenter
      Royalty
    Payments and Minimum Guarantees
        Graceland
    Operations
  Graceland
   5




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90-year
      270-unit
  Elvis
    Presleys Heartbreak Hotel
    Graceland
    Expansion
         6




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Elvis.com
  e-cards,
  Seasonality
    Partnership
    with Cirque du Soleil
  Global
    Projects
    
    Touring shows that will be produced by Cirque du Soleil and
    incorporate the name, image, likeness and music of Elvis Presley.
    Permanent shows at fixed locations that will be produced by
    Cirque du Soleil and incorporate the name, image, likeness and
    music of Elvis Presley.
    Multimedia interactive entertainment Elvis
    Experiences that incorporate the music, memorabilia,
    audiovisual works, and the life and times of Elvis Presley.    Las
    Vegas Show
     7




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19
    Entertainment
  Overview
    IDOLS
    Brand
  IDOLS Pop Idol American Idol American Idol and/or IDOLS IDOLS American Idol and/or
  IDOLS IDOLS
  IDOLS
  
    19 TV Limited owns two-thirds of the IDOLS brand and
    co-produces the show in the United States with its partner,
    FremantleMedia, which owns the other one-third of the
    IDOLS brand. 8




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
    19 TV Limited receives certain fees and revenues relating to the
    sublicensing of the brand and production and marketing of the
    shows based on the IDOLS brand around the world,
    including licensing and producer fees.
    19 TV Limited shares a percentage of the revenues FremantleMedia
    derives from on-air sponsorships and sales of IDOLS
    branded merchandise.
    19 Recordings Limited has the right to sign recording contracts
    with the finalists from the American Idol series in the
    United States.
    19 Management Limited has the right to manage the finalists.
    19 Touring Limited has the right to produce IDOLS tours.
    19 Merchandising Limited has the licensing and merchandising
    rights for the IDOLS tours and in the United States and
    United Kingdom is jointly responsible for off-air sponsorship of
    the televised programs.  Television
    So You Think You Can Dance IDOLS So You Think You
    Can Dance The Next Great American Band
  19 TV
    Limited/FremantleMedia Agreement
  IDOLS IDOLS American Idol
  IDOLS IDOLS IDOLS IDOLS
  
    a percentage of the Format Fee, which is a
    percentage of the gross fees received by a local production
    company from a local broadcaster for production and transmission
    of the IDOLS series;
    a percentage of revenues derived from distribution of
    IDOLS series and programs after a deduction of a
    percentage of gross revenues and other deductions;
    a percentage of the net revenue derived from program sponsorship
    and program merchandising; and
    a percentage of the net revenue derived from local merchandising
    and management deals (outside the United States and the United
    Kingdom). 19 Entertainment and its affiliates retain 100% of
    artist management and artist merchandising income from the
    United States and the United Kingdom. 9




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Fox
    Agreement
  American Idol American Idol American Idol American Idol American Idol
  American Idol American Idol 5
  American Idol 18-49
  Recorded
    Music
  IDOLS IDOLS
  Artist

Idol SeasonKelly Clarkson

American Idol 1 - WinnerRuben Studdard

American Idol 2 - WinnerClay Aiken

American Idol 2 - Runner-UpFantasia Barrino

American Idol 3 - WinnerCarrie Underwood

American Idol 4 - WinnerChris Daughtry

American Idol 5 - FinalistKellie Pickler

American Idol 5 - FinalistJordin Sparks

American Idol 6 - WinnerBlake Lewis

American Idol 6 - Runner-UpWill Young

Pop Idol 1 - Winner   American Idol Pop Idol
  IDOLS
 10




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American Idol American
    Idol 4
  American Idol American Idol
    9
  and/or and/or
    Internet
    and Telephony
  American Idol 10
  American
    Idol 10
  Sponsorship/Merchandising/Marketing
  IDOLS American Idol IDOLS
  runners-up. American Idol
 11




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
    In January 2006, 19 Entertainment entered into a three-year
    agreement with Honda Racing to generate sponsorships for and to
    market and promote the Honda Formula One racing team around the
    world.
    In July 2006, 19 Entertainment formed and obtained a 50%
    interest in 1966 Entertainment Limited, a sports-based talent
    management company which has reached an agreement to manage the
    commercial interest for Team England Football and its players,
    including full representation of the squad, and the management
    of the players program and relationship with the Football
    Association and its commercial partners. The results of 1966
    Entertainment Limited are consolidated in our financial
    statements.
    In September 2006, the company announced the formation of 19 RM
    Limited, a joint venture with internationally renowned designer
    Roland Mouret. Mr. Mouret has signed an employment
    agreement with 19 RM Limited with an initial term of five years.
    All designs created by Mr. Mouret during this five year
    period will be exclusively owned, marketed and sold by 19 RM
    Limited. The results of 19 RM Limited are consolidated in our
    financial statements.  Touring
  IDOLS American
    Idol American
    Idol American Idol American Idol
  So You Think You Can
    Dance
  Artist
    Management
  IDOLS
  Beckham
    Relationship
     12




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Spice
    Girls
    Seasonality
  American Idol So You Think You Can Dance
  Ali
    Business
         13




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MBST
    ® ® ® ® ® Arthur, Good Morning Vietnam, The Vanishing, The
    Greatest Game Ever Played Match Point
    International
    Operations
    Segment
    Information
   14




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Regulation
    Intellectual
    Property
    American Idol
    American Idol
   15




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Employees
    Company
    Organization
  (212) 838-3100.
  Available
    Information
  1-800-SEC-0330 http://www.sec.gov.
  Form 10-KSB Form 10-K, Form 10-QSB Form 10-Q, Form 8-K
 16




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ITEM 1A.
    RISK
    FACTORS    Risks
    Related to Our Business
  We are
    dependent upon a limited number of properties which may, over
    time, decline in popularity.
  IDOLS American Idol IDOLS American Idol IDOLS IDOLS
    Our
    success depends, to a significant degree, on our relationships
    with third parties, including our co-producers, television
    broadcasters, and record companies.
  American Idol American Idol IDOLS IDOLS
  If we
    are unable to complete or integrate future acquisitions, our
    business strategy and stock price may be negatively
    affected.
   17




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
    incurrence of unanticipated liabilities or contingencies from
    such acquisitions;
    incurrence of potential operating losses from such acquisitions;
    engagement in competition with a larger universe of companies;
    incurrence of costs relating to possible additional regulatory
    requirements and compliance costs;
    issuance of more capital stock, which may dilute our
    stockholders percentage ownership in our company;
    incurrence of additional amounts of debt; and/or
    amortization of additional intangible assets.    
    the diversion of managements time and attention away from
    operating our business to acquisition and integration challenges;
    our entry into markets and geographic areas where we have
    limited or no experience;
    the potential loss of key employees, artists or customers of the
    acquired businesses;
    the potential need to implement or remediate controls,
    procedures and policies appropriate for a public company at
    businesses that prior to the acquisition lacked these controls,
    procedures and policies;
    the integration of culturally diverse employees; and
    the need to integrate each business accounting,
    information management, human resources, contract and
    intellectual property management and other administrative
    systems to permit effective management.    We may
    not be able to manage our expected growth, which could adversely
    affect our operating results.
    Certain
    affiliates, minority interests and third parties have the right
    to exploit our intellectual property for commercial purposes and
    may exercise those rights in a manner that negatively affects
    our business.
   18




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Our
    intellectual property rights may be inadequate to protect our
    business.
           19




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The
    departure of or failure to recruit key personnel could have a
    detrimental effect on us.
    We may
    not be able to obtain additional debt or equity financing on
    favorable terms, or at all.
    
    general market conditions;
    the markets perception of our then-current performance and
    growth potential;
    our then-current debt levels;
    our then-current and expected future earnings;
    our cash flow; and
    the market price per share of our common stock.    We
    intend to continue to expand our operations internationally,
    which will expose us to new risks.
    
    fewer intellectual property protections and the potential
    difficulty in enforcing intellectual property rights in some
    foreign countries;
    general economic and political conditions in the countries where
    we operate may have an adverse effect on our operations in those
    countries or may not be favorable to our growth strategy;
    foreign customers may have longer payment cycles than customers
    in the United States;
    tax rates in some foreign countries may exceed those of the
    United States and foreign earnings may be subject to withholding
    requirements or the imposition of tariffs, exchange controls or
    other restrictions;
    challenges caused by distance, language and cultural differences;
    unexpected changes in regulatory requirements; 20




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
    the difficulties associated with managing a large organization
    spread throughout various countries;
    the risk that foreign governments may adopt regulations or take
    other actions that would have a direct or indirect adverse
    impact on our business and market opportunities; and
    the difficulty of enforcing agreements and collecting
    receivables through some foreign legal systems.    To the
    extent we maintain international operations and generate
    revenues in foreign currencies, and currency exchange rates
    become unfavorable, our results of operations may be adversely
    affected.
  IDOLS
  
    Hedging programs are inherently risky and we could lose money as
    a result of poor trades; and
    We may be unable to hedge currency risk for some transactions
    because of a high level of uncertainty or the inability to
    reasonably estimate our foreign exchange exposures.  We
    depend upon distributions from our operating subsidiaries to
    fund our operations and may be subordinate to the rights of
    their existing and future creditors.
    The
    concentration of ownership of our capital stock with our
    executive officers and non-independent directors and their
    affiliates will limit your ability to influence corporate
    matters.
   21




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We are
    subject to extensive governmental regulation, and our failure to
    comply with regulations could adversely affect our results of
    operations, financial condition and business.
        
    defamation;
    invasion of privacy;
    copyright infringement;
    actions for royalties and accountings;
    trademark misappropriation;
    trade secret misappropriation;
    breach of contract;
    negligence; and/or
    other claims based on the nature and content of the materials
    distributed.    Risks
    Related to Our Common Stock
  We do
    not anticipate paying cash dividends on our common stock in the
    foreseeable future, and the lack of cash dividends may have a
    negative effect on our stock price.
   22




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Certain
    provisions of Delaware law and our charter documents could
    discourage a takeover that stockholders may consider
    favorable.
    
    Our board of directors has the right to elect directors to fill
    a vacancy created by the expansion of the board of directors or
    the resignation, death or removal of a director, subject to the
    right of the stockholders to elect a successor at the next
    annual or special meeting of stockholders, which limits the
    ability of stockholders to fill vacancies on our board of
    directors.
    Our stockholders may not call a special meeting of stockholders,
    which would limit their ability to call a meeting for the
    purpose of, among other things, voting on acquisition proposals.
    Our by-laws may be amended by our board of directors without
    stockholder approval, provided that stockholders may repeal or
    amend any such amended by-law at a special or annual meeting of
    stockholders.
    Our by-laws also provide that any action required or permitted
    to be taken by our stockholders at an annual meeting or special
    meeting of stockholders may not be taken by written action in
    lieu of a meeting.
    Our certificate of incorporation does not provide for cumulative
    voting in the election of directors, which could limit the
    ability of minority stockholders to elect director candidates.
    Stockholders must provide advance notice to nominate individuals
    for election to the board of directors or to propose matters
    that can be acted upon at a stockholders meeting. These
    provisions may discourage or deter a potential acquiror from
    conducting a solicitation of proxies to elect the
    acquirors own slate of directors or otherwise attempting
    to obtain control of our company.
    Our board of directors may authorize and issue, without
    stockholder approval, shares of preferred stock with voting or
    other rights or preferences that could impede the success of any
    attempt to acquire our company.    
    Prior to the date of the transaction, the board of directors of
    the corporation approved either the business combination or the
    transaction which resulted in the stockholder becoming an
    interested stockholder;
    Upon completion of the transaction that resulted in the
    stockholder becoming an interested stockholder, the interested
    stockholder owned at least 85% of the voting stock of the
    corporation outstanding at the time such transaction commenced,
    excluding, for purposes of determining the number of shares
    outstanding, (1) shares owned by persons who are directors
    and also officers of the corporation and (2) shares owned
    by employee stock plans in which employee participants do not
    have the right to determine confidentially whether shares held
    subject to the plan will be tendered in a tender or exchange
    offer; or
    On or subsequent to the date of the transaction, the business
    combination is approved by the board of directors of the
    corporation and authorized at an annual or special meeting of
    stockholders by the affirmative vote of at least
    662/3%
    of the outstanding voting stock which is not owned by the
    interested stockholder.     23




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Risks
    Related to the Merger Transaction
  The Failure to Complete the Merger Could Adversely Affect
    the Business, Prospects, Results of Operations or Stock Price of
    our Company
    
    19Xs debt financing letters are subject to conditions,
    including conditions related to disruptions in the capital
    markets that, in the judgment of the financing sources could
    reasonably be expected to impair the syndication of the debt
    facilities;
    A substantial portion of the equity financing necessary for the
    proposed Merger is presently being arranged and there is no
    assurance that financing will be consummated on terms acceptable
    to 19X;
    A failed Merger may result in negative publicity
    and/or a
    negative impression of us in the investment community, which
    could adversely affect the price of our common stock;
    Certain costs related to the proposed merger, including the fees
    and/or
    expenses of our legal, accounting and financial advisors, must
    be paid even if the proposed Merger is not completed;
    The Company and certain of its affiliates are defendants in
    lawsuits brought by stockholders in connection with the merger
    agreement. Those lawsuits may continue in the event the Merger
    is not consummated, and we may be subject to additional lawsuits
    in connection with the Merger Agreement, whether the Merger is
    terminated or completed; and     24




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ITEM 1B.
    UNRESOLVED
    STAFF COMMENTS    ITEM 2.
    PROPERTIES    Location

Name of Property

Type/Use of Property

Approximate Size


Owned or LeasedMemphis, TN

Graceland

Museum/Home


13.53 acres



Lease expires in 2095Memphis, TN

Presley Business

Parking Lot/


38.60 acres



OwnedHeadquarters/Retail/

Airplane Museum/Parking/Ancillary Use

Retail/EPE CorporateOffice/ AncillaryUseMemphis, TN

Heartbreak Hotel

Hotel


2.66 acres



OwnedMemphis, TN

Meadow Oaks Apartments

Apartment Complex


10.70 acres



OwnedMemphis, TN

Craft Manor

Apartment Complex


16.1 acres



OwnedMemphis, TN

Memphis-Graceland RV

RV Park


18.9 acres



OwnedPark & CampgroundMemphis, TN

Commercial Property

Land and Building


3.23 acres



OwnedMemphis, TN

Commercial Property

Land and Building


0.80 acres



OwnedMemphis, TN

Residential Property

Land


9.50 acres



OwnedMemphis, TN

Memphis Restaurant

Restaurant/ Nightclub


0.83 acres



Lease expires in 2017Property (1)Memphis, TN

Presley Business Office

Office and Warehouses


75,425 square feet



Leases expire in 2009and WarehousesMemphis, TN

Presley Business Offices

Offices


3,500 square feet



Lease expires in 2023New York, NY

Corporate Headquarters

Offices


16,200 square feet



Lease expires in 2013New York, NY

19 Entertainment

Offices


3,000 square feet



Lease expires in 2012Administrative OfficesLondon, England

19 Entertainment

Offices


22,268 square feet



Lease expires in 2010HeadquartersLos Angeles, CA

19 Entertainment

Offices


21,578 square feet



Lease expires in 2014Administrative OfficesLos Angeles, CA

MBST Executive and

Offices


11,910 square feet



Lease expires in 2010Administrative OfficesBerrien Springs, MI

Ali Business Executive

Offices


4,420 square feet



Lease expires in 2009and AdministrativeOffices     (1)
    
    We closed the restaurant effective September 2003 and have
    negotiated a sublease of the entire space through 2017.  ITEM 3.
    LEGAL
    PROCEEDINGS   25




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ITEM 4.
    SUBMISSION
    OF MATTERS TO A VOTE OF SECURITY HOLDERS   26




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PART II  ITEM 5.
    MARKET
    FOR REGISTRANTS COMMON EQUITY, RELATED STOCKHOLDER MATTERS
    AND ISSUER PURCHASES OF EQUITY SECURITIES  Market
    Information
  ® ®
  2007High


LowThe NASDAQ Global
    Market®Quarters EndedDecember 31, 2007

$
12.60


$
10.62September 30, 2007

$
14.25


$
10.33June 30, 2007

$
14.65


$
10.20March 31, 2007

$
14.00


$
11.10   2006High


LowQuarters EndedDecember 31, 2006

$
14.31


$
11.15September 30, 2006

$
13.39


$
8.95June 30, 2006

$
14.23


$
12.15March 31, 2006

$
15.14


$
11.58     Dividend
    Policy
      Securities
    Authorized for Issuance Under Equity Compensation
    Plans
  Form 10-K
   27




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ITEM 6.
    SELECTED
    FINANCIAL DATA       28




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Predecessor CompanyCKX, Inc.



January 1-


Year Ended(Amounts in thousands,

Year Ended December 31,



February 7,


December 31,except per share and share information)

2007


2006


2005



2005


2004


2003Statement of Operations Data:Net revenues

$
266,777


$
210,153


$
120,605



$
3,442


$
41,658


$
44,376Operating expenses (excluding depreciation and amortization)


201,468



169,717



108,547




2,854



30,558



32,268Depreciation and amortization


22,551



20,541



14,910




126



1,201



1,227Operating income (loss)


42,758



19,895



(2,852
)



462



9,899



10,881Interest income (expense), net


(3,946
)


240



(2,820
)



(115
)


(1,327
)


(1,362
)Write-off of unamortized deferred loan costs










(1,894
)











Other income (expense)


2,181



(3,323
)


2,970












Income (loss) from continuing operations before income taxes


40,993



16,812



(4,596
)



347



8,572



9,519Income tax expense


19,432



6,178



855




152



833



813Equity in earnings of affiliate


1,566



686



843












Minority interest


(2,553
)


(2,127
)


(1,296
)











Income (loss) from continuing operations


20,574



9,193



(5,904
)



195



7,739



8,706Loss from discontinued operations


(8,430
)















(246
)


(3,378
)Net income (loss)


12,144



9,193



(5,904
)



195



7,493



5,328Dividends on preferred stock


(1,824
)


(1,824
)


(1,632
)











Accretion of beneficial conversion feature










(17,762
)











Net income (loss) applicable to common stockholders

$
10,320


$
7,369


$
(25,298
)


$
195


$
7,493


$
5,328Basic income (loss) per common share

$
0.11


$
0.08


$
(0.35
)Diluted income (loss) per common share

$
0.11


$
0.08


$
(0.35
)Average number of basic common shares outstanding


96,901,172



92,529,152



71,429,858Average number of diluted common shares outstanding


96,991,441



93,555,201



71,429,858   CKX, Inc.



Predecessor CompanyAs of December 31,



As of December 31,(Amounts in thousands)

2007


2006


2005



2004


2003Balance Sheet Data:Cash and cash equivalents

$
50,947


$
36,610


$
36,979



$
201


$
287Marketable securities










42,625








Other current assets


58,127



36,088



26,495




6,912



8,188Total assets(1)


525,455



489,117



444,600




36,032



37,304Current liabilities (excluding current portion of debt)


59,845



39,432



33,937




8,978



6,949Debt


103,070



3,701



3,500




23,582



26,431Total liabilities(1)


207,992



91,153



94,365




34,615



35,645Redeemable restricted common stock


23,002



23,002



23,002








Stockholders equity/net assets


289,704



371,009



323,432




1,417



1,659     (1)
    
    Goodwill and deferred tax liabilities for 2006 and 2005 have
    been corrected. See note 13 to the consolidated financial
    statements. 29




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FORWARD
    LOOKING STATEMENTS
  Form 10-K
 30




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##### Table of Contents



ITEM 7.
    MANAGEMENTS
    DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF
    OPERATIONS  The following managements discussion and analysis of
    financial condition and results of operations of the Company
    (and its predecessor) should be read in conjunction with the
    historical financial statements and footnotes of the Presley
    Business, and the Companys historical consolidated
    financial statements and notes thereto included elsewhere in
    this Annual Report. Our future results of operations may change
    materially from the historical results of operations reflected
    in our historical financial statements.
  Overview
  IDOLS American Idol IDOLS
      Merger
    Agreement
    Description
    of Merger Offer
       31




---



##### Table of Contents



Form 8-K,
    The Failure to Complete the
    Merger Could Adversely Affect the Business, Prospects, Results
    of Operations or Stock Price of the Company.
  Affiliated
    Elements of Transaction
   32




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##### Table of Contents



Approval
    Process
    Transactions
    Involving FX Real Estate and Entertainment Inc. and FX Luxury
    Realty, LLC
  Investment
    in FX Luxury Realty
    License
    Agreements
     33




---



##### Table of Contents



Dividend
    of FXRE shares to CKX Stockholders
  June
    Dividend into Trusts
        Reorganization
    of FX Luxury Realty into FX Luxury Real Estate and
    Entertainment
    Form 10-K
  CKX
    Loan to FXRE
    Additional
    FXRE Equity Investment
    Second
    FXRE Dividend into Trust
   34




---



##### Table of Contents



January
    2008 CKX Distribution of FXRE Stock
      Accounting
    for the Investment and Distributions
  Accounting for
    Non-monetary Transactions, Accounting for
    Impairment or Disposal of Long-Lived Assets.
      Affiliated
    Elements of Transactions
      Approval
    Process
   35




---



##### Table of Contents



Shared
    Services Agreement
          Presley
    Business
  and/or and/or
   36




---



##### Table of Contents



and/or
  19
    Entertainment
    IDOLS IDOLS IDOLS IDOLS IDOLS IDOLS
  IDOLS American Idol 1 American Idol 4 American Idol 4 IDOLS
  American Idol IDOLS
  American Idol American Idol American Idol American Idol (2008-2009), American Idol
 37




---



##### Table of Contents



American Idol So You Think You Can Dance IDOLS So You Think You Can Dance
    Ali
    Business
        Other
        Use of
    OIBDAN
   38




---



##### Table of Contents



Consolidated
    Operating Results Year Ended December 31, 2007
    Compared to Year Ended December 31, 2006
  Year Ended


Year EndedDecember 31,


December 31,2007


2006


Variance(Amounts in thousands)Revenue

$
266,777


$
210,153


$
56,624Operating expenses


224,019



190,258



33,761Operating income


42,758



19,895



22,863Income tax expense


19,432



6,178



13,254Net income


12,144



9,193



2,951Operating income

$
42,758


$
19,895


$
22,863Depreciation and amortization


22,551



20,541



2,010Non-cash compensation


1,325



1,052



273OIBDAN

$
66,634


$
41,488


$
25,146   American Idol So
    You Think You Can Dance th
  Presley
    Business  Royalties and Licensing
    Year Ended


Year EndedDecember 31,


December 31,2007


2006


Variance(Amounts in thousands)Revenue

$
21,883


$
13,699


$
8,184Cost of sales


(2,211
)


(476
)


(1,735
)Selling, general and administrative expense, excluding non-cash
    compensation


(7,691
)


(4,326
)


(3,365
)OIBDAN

$
11,981


$
8,897


$
3,084OIBDAN

$
11,981


$
8,897


$
3,084Depreciation and amortization


(2,582
)


(2,582
)


Non-cash compensation


(35
)


(15
)


(20
)Operating income

$
9,364


$
6,300


$
3,064  39




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##### Table of Contents



Presley
    Business  Graceland Operations
    Year Ended


Year EndedDecember 31,


December 31,2007


2006


Variance(Amounts in thousands)Revenue

$
40,879


$
35,081


$
5,798Cost of sales


(7,487
)


(7,258
)


(229
)Selling, general and administrative expense, excluding non-cash
    compensation


(26,220
)


(23,569
)


(2,651
)OIBDAN

$
7,172


$
4,254


$
2,918OIBDAN

$
7,172


$
4,254


$
2,918Depreciation and amortization


(2,089
)


(1,823
)


(266
)Non-cash compensation


(64
)


(40
)


(24
)Operating income

$
5,019


$
2,391


$
2,628   th th
  th th Elvis the
    Concert
  th Elvis the Concert th
 40




---



##### Table of Contents



19
    Entertainment
      Year Ended December 31, 2007

Revenue


Cost of Sales(Amounts in thousands)American Idol(including television production, foreign
    syndication, sponsorship, merchandise and touring)

$
83,859


$
(20,647
)

$
63,212Other IDOLStelevision programs (including license fees
    and sponsorship)


15,837



(385
)


15,452So You Think You Can Danceand other television
    productions


54,154



(45,352
)


8,802Recorded music, management clients and other


39,112



(12,056
)


27,056$
192,962


$
(78,440
)

$
114,522Selling, general and administrative expenses, excluding non-cash
    compensation










(46,797
)Other costs










(308
)OIBDAN









$
67,417OIBDAN









$
67,417Depreciation and amortization










(16,916
)Non-cash compensation










(247
)Operating income









$
50,254   Year Ended December 31, 2006

Revenue


Cost of Sales(Amounts in thousands)American Idol(including television production, foreign
    syndication, sponsorship, merchandise and touring)

$
67,710


$
(20,499
)

$
47,211Other IDOLStelevision programs (including license fees
    and sponsorship)


8,605



(77
)


8,528So You Think You Can Danceand other television
    productions


38,240



(31,335
)


6,905Recorded music, management clients and other


36,663



(18,432
)


18,231$
151,218


$
(70,343
)

$
80,875Selling, general and administrative expenses, excluding non-cash
    compensation










(34,730
)Other costs










(2,669
)OIBDAN









$
43,476OIBDAN









$
43,476Depreciation and amortization










(15,195
)Non-cash compensation










(220
)Operating income









$
28,061  41




---



##### Table of Contents



American Idol So You Think You Can Dance. American Idol American Idol 5 American Idol So You Think You Can Dance
  So You Think You Can Dance
  Ali
    Business
    Corporate
    and Other
  MBST
    Corporate
    Expenses and Other Costs
       42




---



##### Table of Contents



Interest
    Income/Expense, net
    Other
    Income (Expense)
      Income
    Taxes
            Accounting for
    Uncertainty in Income Taxes
   43




---



##### Table of Contents



Equity
    in Earnings of Affiliates
    Minority
    Interest
    Discontinued
    Operations
  Accounting for
    Non-monetary Transactions Accounting for
    Impairment or Disposal of Long-Lived Assets
  Consolidated
    Operating Results Year Ended December 31, 2006
    Compared to Combined Year Ended December 31, 2005
    44




---



##### Table of Contents



PredecessorCKX



CKX


PresleyYear



Year


January 1,Ended



Ended


2005 toDecember 31,



December 31,


February 7,


Combined2006



2005


2005


Total


Variance(Amounts in thousands)Revenue

$
210,153



$
120,605


$
3,442


$
124,047


$
86,106Operating expenses


190,258




123,457



2,980



126,437



63,821Operating income (loss)


19,895




(2,852
)


462



(2,390
)


22,285Income tax expense


6,178




855



152



1,007



5,171Net income (loss)


9,193




(5,904
)


195



(5,709
)


14,902Operating income (loss)

$
19,895



$
(2,852
)

$
462


$
(2,390
)

$
22,285Depreciation and amortization


20,541




14,910



126



15,036



5,505Non-cash compensation


1,052




731







731



321OIBDAN

$
41,488



$
12,789


$
588


$
13,377


$
28,111   American
    Idol So You Think You Can Dance,
  Presley
    Business  Royalties and Licensing
    20052006


combined


Variance(Amounts in thousands)Revenue

$
13,699


$
21,172


$
(7,473
)Cost of sales


(476
)


(5,503
)


(5,027
)Selling, general and administrative expense, excluding non-cash
    compensation


(4,326
)


(5,419
)


(1,093
)OIBDAN

$
8,897


$
10,250


$
(1,353
)OIBDAN

$
8,897


$
10,250


$
(1,353
)Depreciation and amortization


(2,582
)


(3,040
)


458Non-cash compensation


(15
)


(6
)


(9
)Operating income

$
6,300


$
7,204


$
(904
)    45




---



##### Table of Contents



Presley
    Business  Graceland Operations
    20052006


combined


Variance(Amounts in thousands)Revenue

$
35,081


$
30,358


$
4,723Cost of sales


(7,258
)


(6,426
)


832Selling, general and administrative expense, excluding non-cash
    compensation


(23,569
)


(19,094
)


4,475OIBDAN

$
4,254


$
4,838


$
(584
)OIBDAN

$
4,254


$
4,838


$
(584
)Depreciation and amortization


(1,823
)


(1,473
)


(350
)Non-cash compensation


(40
)


(5
)


(35
)Operating income

$
2,391


$
3,360


$
(969
)       Elvis the Concert
  Elvis the Concert
 46




---



##### Table of Contents



19
    Entertainment
    Year Ended December 31, 2006

Revenue


Cost of Sales(Amounts in thousands)American Idol(including television production, foreign
    syndication, sponsorship, merchandise and touring)

$
67,710


$
(20,499
)

$
47,211Other IDOLStelevision programs (including license fees
    and sponsorship)


8,605



(77
)


8,528So You Think You Can Danceand other television
    productions


38,240



(31,335
)


6,905Recorded music, management clients and other


36,663



(18,432
)


18,231$
151,218


$
(70,343
)

$
80,875Selling, general and administrative expenses, excluding non-cash
    compensation










(34,730
)Other costs










(2,669
)OIBDAN









$
43,476OIBDAN









$
43,476Depreciation and amortization










(15,195
)Non-cash compensation










(220
)Operating income









$
28,061   Period from date of acquisition (March 17,2005) through December 31, 2005

Revenue


Cost of Sales(Amounts in thousands)American Idol(including television production, foreign
    syndication, sponsorship, merchandise and touring)

$
25,280


$
(9,857
)

$
15,423Other IDOLStelevision programs (including license fees
    and sponsorship)


8,563



(917
)


7,646So You Think You Can Danceand other television
    productions


20,234



(18,558
)


1,676Recorded music and management clients


16,490



(9,489
)


7,001$
70,567


$
(38,821
)

$
31,746Selling, general and administrative expenses, excluding non-cash
    compensation










(20,637
)OIBDAN









$
11,109OIBDAN









$
11,109Depreciation and amortization










(10,219
)Non-cash compensation










(75
)Operating income









$
815   American Idol So You Think You Can Dance
 47




---



##### Table of Contents



American Idol So You Think You Can Dance
  American Idol 5 American Idol 5 The American Idol 5 American Idol 4 The American Idol 5 So You Think You
    Can Dance American Idol American Idol 5 American Idol
  American Idol 4 American Idol 4
  So You Think You Can Dance
  Ali
    Business
    Corporate
    and Other
  MBST
    Corporate
    Expenses and Other Costs
     48




---



##### Table of Contents



Interest
    Income/Expense, net
    Deferred
    Loan Cost Write-Off
    Other
    Income (Expense)
      Income
    Taxes
         49




---



##### Table of Contents



Equity
    in Earnings of Affiliates
    Minority
    Interest
    Liquidity
    and Capital Resources
      Cash Flow
    for the Years Ended December 31, 2007, 2006 and
    2005
  Operating
    Activities
      American Idol 4
 50




---



##### Table of Contents



American Idol
  Investing
    Activities
          Financing
    Activities
        Uses of
    Capital
   51




---



##### Table of Contents



Capital
    Expenditures
      Dividends
      Commitments
    and Contingencies
         52




---



##### Table of Contents



2008


2009


2010


2011


2012


Thereafter


Total(In thousands)Debt (including interest at current rates)

$
7,569


$
7,373


$
7,310


$
103,217


$
550


$
550


$
126,569Non-cancelable operating leases


4,427



4,414



3,627



2,875



2,938



3,987



22,268Employment contracts


16,071



15,658



4,178



1,427



560



1,167



39,061Guaranteed minimum distributions


1,700



1,700



1,700



1,700



1,700




(a)


8,50019 Entertainment put right






















22,039
(b)


22,039Series B convertible preferred stock dividend


1,826



1,826



1,826



1,826



1,826




(c)


9,130MBST contingent consideration























(d)


MAE contingent consideration























(e)


Tax reserve (Fin 48)


193























193Total

$
31,786


$
30,971


$
18,641


$
111,045


$
7,574


$
27,743


$
227,760     (a)
    
    We are required to make guaranteed minimum distributions to the
    minority interest shareholder of at least $1.2 million
    annually for as long as the minority interest shareholder
    continues to own 15% of the Presley Business. We are also
    required to make guaranteed minimum distributions to the
    minority interest shareholder of at least $0.5 million
    annually for as long as the minority interest shareholder
    continues to own 20% of the Ali Business.(b)
    
    We have granted to the former holders of capital stock of 19
    Entertainment the right, during a short period beginning
    March 17, 2011, to cause us to purchase up to
    1.7 million shares of common stock from them at a price of
    $13.18 per share, which is reflected in the table above.(c)
    
    We are required to pay an annual dividend of $1.8 million
    per year in quarterly installments on our outstanding
    Series B Convertible Preferred Stock issued in the
    acquisition of the Presley Business.(d)
    
    The sellers of MBST may receive up to 150,000 additional
    restricted shares of common stock upon satisfaction of certain
    performance thresholds during the period ending August 9,
    2010.(e)
    
    The Ali Trust has the right to receive an additional 5%
    membership interest in the Ali Business effective as of the end
    of the calendar year in which the total compound internal rate
    of return to the Company on its initial $50 million
    investment equals or exceeds (i) 30% on a cumulative basis
    during the period ending April 10, 2011 or (ii) 25% on
    a cumulative basis for any period commencing on the acquisition
    date and ending at any time after April 10, 2011. The Ali
    Trust also has the right to require the Company to purchase all
    of its remaining ownership interest in the Ali Business
    beginning on the fifth anniversary of the acquisition at a price
    based on the then current fair market value.  Future
    Acquisitions
   53




---



##### Table of Contents



Inflation
    Application
    of Critical Accounting Policies
        Investment
    in FXRE
  Consolidation of Variable Interest Entities Consolidated
    Financial Statements
 54




---



##### Table of Contents



Accounting for Non-monetary
    Transactions Accounting for Impairment or Disposal
    of Long-Lived Assets
  Television
    Production Costs
  No. 00-2, Accounting by Producers or Distributors of Films (SOP 00-2).
  SOP 00-2,
  Artist
    Advances and Recoupable Recording Costs
  Financial Reporting in the Record and Music
    Industry artist-by-artist
  Goodwill
    and Other Intangible Assets
  Business Combinations
  Goodwill and Other
    Intangible Assets
 55




---



##### Table of Contents



Income
    Taxes
  Accounting for Uncertainty in Income Taxes Accounting for Income Taxes
        Share-Based
    Payments
  Share-Based Payment
 56




---



##### Table of Contents



Impact of
    Recently Issued Accounting Standards
  Fair Value Measurements
  The Fair Value Option for
    Financial Assets and Financial Liabilities
  Business Combinations Noncontrolling Interests in Consolidated Financial
    Statements, an amendment of ARB No. 51
  Off
    Balance Sheet Arrangements
  Regulation S-K.
  ITEM 7A.
    QUANTITATIVE
    AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK    Interest
    Rate Risk
     57




---



##### Table of Contents



Foreign
    Exchange Risk
        19
    Entertainment Put Option
   58




---



##### Table of Contents



ITEM 8.
    FINANCIAL
    STATEMENTS AND SUPPLEMENTARY DATA  Table of
    Contents to Financial Statements
  PageCKX, Inc.Reports of Independent Registered Public
    Accounting Firms


60Consolidated Balance Sheets at December 31,
    2007 and 2006


63Consolidated Statements of Operationsfor the
    years ended December 31, 2007, 2006, and 2005, and Combined
    Statements of Operations for the period January 1, 2005 to
    February 7, 2005 (Predecessor)


64Consolidated Statements of Cash Flowsfor the
    years ended December 31, 2007, 2006, and 2005, and Combined
    Statements of Cash Flows for the period January 1, 2005 to
    February 7, 2005 (Predecessor)


65Consolidated Statement of Stockholders
    Equityfor the years ended December 31, 2007, 2006 and
    2005


67Notes to Consolidated Financial Statements


68  59




---



##### Table of Contents



REPORT OF
    INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM  To the Board
    of Directors and Stockholders of
    CKX, Inc.
    New York, New York
        Internal Control  Integrated Framework
  Deloitte &
    Touche LLP
     60




---



##### Table of Contents



REPORT OF
    INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM
  To the Board
    of Directors and Stockholders of
    CKX, Inc.
    New York, New York
  Internal Control  Integrated Framework
        Internal Control  Integrated Framework
    Deloitte &
    Touche LLP
     61




---



##### Table of Contents



REPORT OF
    INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM
  To the Board
    of Directors and Stockholders of
    CKX, Inc.
    New York, New York
        Deloitte &
    Touche LLP
     62




---



##### Table of Contents



CKX,
    INC.CONSOLIDATED BALANCE SHEETS
  December 31,


December 31,2007


2006In thousands, except per share and share informationASSETSCurrent assets:Cash and cash equivalents

$
50,947


$
36,610Receivables, net of allowance for doubtful accounts of $832 at
    December 31, 2007 and $457 at December 31, 2006


42,231



23,364Due from related party


999



Inventories, net of allowance for obsolescence of $627 at
    December 31, 2007 and $636 at December 31, 2006


2,092



2,192Prepaid expenses and other current assets


5,337



2,758Prepaid income taxes






7,014Investment in FXRE


6,175



Deferred tax assets


1,293



760Total current assets


109,074



72,698Property and equipment  net


43,989



35,329Receivables


1,607



1,274Loans to related parties


7,931



Deferred production costs


635



Other assets


19,223



20,394Goodwill


160,454



158,418Other intangible assets  net


181,872



199,805Deferred tax assets


670



1,199TOTAL ASSETS

$
525,455


$
489,117LIABILITIES AND STOCKHOLDERS EQUITYCurrent liabilities:Accounts payable

$
14,987


$
8,121Accrued expenses


20,448



16,831Accrued dividend


6,175



Current portion of long-term debt


652



631Income taxes payable


6,226



Other current liabilities






1,988Deferred revenue


12,009



12,492Total current liabilities


60,497



40,063Long-term liabilities:Long-term debt


102,418



3,070Deferred revenue


2,778



2,566Other long-term liabilities


4,216



4,359Deferred tax liabilities


38,083



41,095Total liabilities


207,992



91,153Minority interest


4,757



3,953Redeemable restricted common stock 
    1,672,170 shares outstanding at December 31, 2007 and
    2006


23,002



23,002Commitments and contingenciesStockholders equity:Preferred stock, $.01 par value, authorized
    75,000,000 shares:Series B-1,491,817 shares
    outstanding


22,825



22,825Series C-1 share
    outstanding






Common stock, $0.01 par value: authorized
    200,000,000 shares, 95,402,757 shares issued and
    outstanding at December 31, 2007 and 94,237,075 issued and
    outstanding at December 31, 2006


954



942Additional
    paid-in-capital


374,665



373,115Accumulated deficit


(123,746
)


(36,562
)Accumulated other comprehensive income


15,006



10,689Total stockholders equity


289,704



371,009TOTAL LIABILITIES AND STOCKHOLDERS EQUITY

$
525,455


$
489,117    63




---



##### Table of Contents



CKX,
    INC.STATEMENTS OF OPERATIONS
  CombinedPredecessorConsolidated



Company (1)Year Ended


Year Ended


Year Ended



January 1 toDecember 31,


December 31,


December 31,



February 7,2007


2006


2005



2005(In thousands, except per share and share information)Revenue

$
266,777


$
210,153


$
120,605



$
3,442Operating expenses:Cost of sales


90,073



79,893



50,533




423Selling, general and administrative expenses


87,672



68,760



44,477




2,431Corporate expenses


18,156



15,236



11,362




Depreciation and amortization


22,551



20,541



14,910




126Merger and distribution-related costs


5,259












Acquisition-related costs






3,159








Other costs


308



2,669



2,175




Total operating expenses


224,019



190,258



123,457




2,980Operating income (loss)


42,758



19,895



(2,852
)



462Interest income


1,644



1,406



1,797




Interest expense


(5,590
)


(1,166
)


(4,617
)



(115
)Write-off of unamortized deferred loan costs










(1,894
)



Other income (expense)


2,181



(3,323
)


2,970




Income (loss) before income taxes, equity in earnings of
    affiliates and minority interest


40,993



16,812



(4,596
)



347Income tax expense


19,432



6,178



855




152Income (loss) before equity in earnings of affiliates and
    minority interest


21,561



10,634



(5,451
)



195Equity in earnings of affiliates


1,566



686



843




Minority interest


(2,553
)


(2,127
)


(1,296
)



Income (loss) from continuing operations


20,574



9,193



(5,904
)



195Loss from discontinued operations


(8,430
)











Net income (loss)


12,144



9,193



(5,904
)



195Dividends on preferred stock


(1,824
)


(1,824
)


(1,632
)



Accretion of beneficial conversion feature










(17,762
)



Net income (loss) available to common shareholders

$
10,320


$
7,369


$
(25,298
)


$
195Basic income (loss) per share:Income (loss) from continuing operations

$
0.21


$
0.10


$
(0.08
)Discontinued operations


(0.08
)






Dividends on preferred stock


(0.02
)


(0.02
)


(0.02
)Accretion of beneficial conversion feature










(0.25
)Basic income (loss) per share

$
0.11


$
0.08


$
(0.35
)Diluted income (loss) per share:Income (loss) from continuing operations

$
0.21


$
0.10


$
(0.08
)Discontinued operations


(0.08
)






Dividends on preferred stock


(0.02
)


(0.02
)


(0.02
)Accretion of beneficial conversion feature










(0.25
)Diluted income (loss) per share

$
0.11


$
0.08


$
(0.35
)Average number of common shares outstanding:Basic


96,901,172



92,529,152



71,429,858Diluted


96,991,441



93,555,201



71,429,858     (1)
    
    Prior to the acquisition of the Presley Business, the Company
    did not have any operations. As a result, the Presley Business
    is considered to be a predecessor company
    (Predecessor). Accordingly, relevant prior year
    financial information regarding the Predecessor has been
    presented herein.   64




---



##### Table of Contents



CKX,
    INC.STATEMENTS OF CASH FLOWS
  CombinedPredecessorConsolidated



Company(1)Year Ended


Year Ended


Year Ended



January 1 toDecember 31,


December 31,


December 31,



February 7,2007


2006


2005



2005(In thousands)Cash flows from operating activities:Net income (loss)

$
12,144


$
9,193


$
(5,904
)


$
195Adjustments to reconcile net income (loss) to net cash provided
    by operating activities:Depreciation and amortization


22,551



20,541



14,910




126Impact on cash of discontinued operations


8,430












Unrealized foreign currency gains and losses


308



3,996








Share-based payments


1,325



1,052



731




Minority interest


2,553



2,127



1,296




Equity in earnings of affiliates, net of cash received


482



(988
)


(805
)



Gain on distribution


(2,225
)











Deferred income taxes


(1,802
)


(2,009
)


123




Non-cash interest expense


654



390








Provision for accounts receivable allowance


588



450



7




Provision for inventory allowance


32



242



394




Foreign exchange gain on deferred purchase consideration










(2,800
)



Changes in operating assets and liabilities:Receivables


(21,005
)


(1,677
)


2,536




(566
)Inventory


68



662



(1,191
)



124Prepaid expenses


(2,579
)


1,210



(1,212
)



(576
)Prepaid income taxes


7,014



(5,512
)


(1,477
)



Other assets


364



(1,416
)


2,815




Accounts payable and accrued expenses


7,456



4,376



6,436




1,048Deferred revenue


(271
)


(3,388
)


4,772




1,410Income taxes payable


4,736



(768
)


240




152Other


(143
)


1,447



1,199




Net cash provided by operating activities


40,680



29,928



22,070




1,913Cash flows from investing activities:Investment in and loan to FXRE


(109,691
)











Purchases of businesses, net of cash acquired of $1,787 and
    $3,501 in the years ended December 31, 2006 and 2005,
    respectively






(60,993
)


(245,283
)



Acquisition of certain assets of Elvis-themed museum






(3,928
)







Investment in marketable securities










(80,000
)



Proceeds from sale of marketable securities






42,625



37,375




Additions to property and equipment


(11,354
)


(10,684
)


(1,023
)



(2
)Loan to related party


(1,750
)











Net cash used in investing activities


(122,795
)


(32,980
)


(288,931
)



(2
)Cash flows from financing activities:Borrowing under revolving credit facility


100,000












Proceeds from exercise of warrants


244












Issuance of common stock






6,911



33,056




Public offering of common stock










253,000




Underwriting discount and other offering costs










(20,017
)



Proceeds from Huff investment










43,819




Proceeds from credit facilities










148,000




Costs associated with Huff investment and credit facility










(3,207
)



Debt issuance costs


(94
)


(3,158
)







Distributions to minority interest shareholders


(1,750
)


(1,967
)


(1,365
)



Principal payments on debt


(631
)


(759
)


(148,000
)



(185
)Dividends paid on preferred stock


(1,824
)


(1,824
)


(1,177
)



Distributions to trust beneficiaries















(23
)Net cash provided by (used in) financing activities


95,945



(797
)


304,109




(208
)Effect of exchange rate changes on cash


507



3,480



(269
)



Net increase (decrease) in cash and equivalents


14,337



(369
)


36,979




1,703Cash and cash equivalents, beginning of period


36,610



36,979








201Cash and cash equivalents, end of period

$
50,947


$
36,610


$
36,979



$
1,904Supplemental cash flow data (in thousands):Cash paid during the period for:Interest

$
4,535


$
514


$
3,254



$
172Income taxes


11,033



15,118



1,668




125  65




---



##### Table of Contents



(1)
    
    Prior to the acquisition of the Presley Business, the Company
    did not have any operations. As a result, the Presley Business
    is considered to be a predecessor company
    (Predecessor). Accordingly, relevant prior year
    financial information regarding the Predecessor has been
    presented herein.  Supplemental
    Cash Flow Information:
    Dividend of CKXs interests in FXRE to the Distribution
    Trusts (as defined)

$
91,259Accrued dividend of CKXs interests in FXRE to the
    Distribution Trusts (as defined)


6,175Accrued but unpaid Series B Convertible Preferred Stock
    Dividends


456     Issuance of note in connection with the acquisition of certain
    assets of Elvis-themed museum

$
750Common stock issued in connection with acquisitions


2,387Accrued but unpaid Series B Convertible Preferred Stock
    Dividends


456     Common stock issued for the acquisition of the Presley Business

$
3,835Series B Convertible Preferred stock issued for acquisition
    of the Presley Business


22,825Issuance of Priscilla Presley Note for the acquisition of the
    Presley Business


3,500Common stock and redeemable restricted common stock issued for
    the acquisition of 19 Entertainment


26,341Conversion of Series A Convertible Redeemable Preferred
    Stock to common stock


17,762Issuance of common shares in satisfaction of obligation to
    former affiliate


270Common stock issued for the acquisition of MBST


10,123Accrued but unpaid Series B Convertible Preferred Stock
    Dividends


456    66




---



##### Table of Contents






CKX,
    INC.CONSOLIDATED STATEMENT OF STOCKHOLDERS EQUITY(IN THOUSANDS, EXCEPT SHARE DATA)
  AccumulatedPreferred Stock








Additional





OtherSeries A


Series B


Series C


Common Stock


Paid-In


Accumulated


ComprehensiveShares


Amount


Shares


Amount


Shares


Amount


Shares


Amount


Capital


Deficit


Income (Loss)


TotalBalance at January 1, 2005





$







$







$




4,283,061


$
6,115


$
12,249


$
(18,633
)

$



$
(269
)Stock issued in settlement of affiliate liability


























10,000







270











270Change of par value to $0.01 per share






























(6,072
)


6,072











Issuance of common stock


























30,389,072



304



2,752











3,056Huff investment


2,172,400



17,762



















3,706,052



37



25,520











43,319Recognition of beneficial conversion feature






(17,762
)


























17,762











Warrant exercises


























21,517,199



215



29,785











30,000Shares issued for acquisitions










1,491,817



22,825



1







1,438,868



15



17,282











40,122Restricted shares issued to independent directors and employees


























124,500



1



475











476Shares issued to independent directors


























8,813







117











117Stock option expense


































94











94Conversion of Series A Preferred and accretion of
    beneficial conversion feature


(2,172,400
)






















6,051,253



60



17,702



(17,762
)






Series B preferred dividends






































(1,632
)






(1,632
)Public offering of common stock


























23,000,000



230



232,753











232,983Net loss






































(5,904
)






(5,904
)Other comprehensive income (loss)










































(19,200
)


(19,200
)Balance at December 31, 2005





$




1,491,817


$
22,825



1


$




90,528,818


$
905


$
362,833


$
(43,931
)

$
(19,200
)

$
323,432Warrant exercises


























3,455,219



35



6,876











6,911Shares issued for acquisitions


























221,683



2



2,385











2,387Shares issued to independent directors


























16,355







576











576Restricted shares issued to employees


























15,000







70











70Stock option expense


































375











375Series B preferred dividends






































(1,824
)






(1,824
)Net income






































9,193







9,193Other comprehensive income










































29,889



29,889Balance at December 31, 2006





$




1,491,817


$
22,825



1


$




94,237,075


$
942


$
373,115


$
(36,562
)

$
10,689


$
371,009Fin 48 adjustment






































(70
)






(70
)Warrant exercises


























1,081,889



11



233











244Shares issued to independent directors


























28,293







656











656Restricted shares issued to employees


























55,500



1



189











190Stock option expense


































472











472Series B preferred dividends






































(1,824
)






(1,824
)Distribution of FXRE






































(97,434
)






(97,434
)Net income






































12,144







12,144Other comprehensive income










































4,317



4,317Balance at December 31, 2007





$




1,491,817


$
22,825



1


$




95,402,757


$
954


$
374,665


$
(123,746
)

$
15,006


$
289,704    67




---



##### Table of Contents





CKX,
    INC.
  NOTES TO FINANCIAL STATEMENTS
  1.
    Overview  IDOLS American Idol IDOLS American Idol
  and/or
  IDOLS
            2.
    Merger
    Agreement   68




---



##### Table of Contents



CKX,
    INC.
  NOTES TO FINANCIAL STATEMENTS  (Continued)
  Description
    of Merger Offer
               69




---



##### Table of Contents



CKX,
    INC.
  NOTES TO FINANCIAL STATEMENTS  (Continued)
    Affiliated
    Elements of Transaction
    3.
    Transactions
    Involving FX Real Estate and Entertainment Inc. and FX Luxury
    Realty, LLC        Investment
    in FX Luxury Realty
    License
    Agreements
   70




---



##### Table of Contents



CKX,
    INC.
  NOTES TO FINANCIAL STATEMENTS  (Continued)
        June
    Dividend into Trusts
        Reorganization
    of FX Luxury Realty into FX Real Estate and
    Entertainment
    Form 10-K
 71




---



##### Table of Contents



CKX,
    INC.
  NOTES TO FINANCIAL STATEMENTS  (Continued)
  CKX
    Loan to FXRE
    Additional
    FXRE Equity Investment
    Second
    FXRE Dividend into Trust
    January
    2008 CKX Distribution of FXRE Stock
      Accounting
    for the Investment and Distributions
   72




---



##### Table of Contents



CKX,
    INC.
  NOTES TO FINANCIAL STATEMENTS  (Continued)
  Accounting Principles Board
    Opinion 29, Accounting for Non-monetary Transactions
    Shared
    Services Agreement
          4.
    Summary
    of Significant Accounting Policies and Basis of
    Presentation  Principles
    of Consolidation
    Consolidation of
    Variable Interest Entities
  Use of
    Estimates
   73




---



##### Table of Contents



CKX,
    INC.
  NOTES TO FINANCIAL STATEMENTS  (Continued)
  Investment
    in FXRE
  Consolidation of Variable Interest Entities Consolidated
    Financial Statements
  Discontinued
    Operations
  Accounting for Non-monetary Transactions, Accounting for Impairment or Disposal of Long-Lived
    Assets
  Period fromJune 1, 2007 toSeptember 26, 2007Revenue

$
1,346Total costs and expenses, net of minority interest share


(6,802
)Equity in losses of unconsolidated subsidiaries


(2,974
)Income taxes


Loss from discontinued operations, net of income taxes

$
(8,430
)   Cash
    and Cash Equivalents
    Inventory
  first-in,
  Property
    and Equipment, net
   74




---



##### Table of Contents



CKX,
    INC.
  NOTES TO FINANCIAL STATEMENTS  (Continued)
      December 31, 2007


December 31, 2006


Useful Lives(In thousands)


(In thousands)Land

$
25,285


$
17,512



n/aBuildings and improvements


18,425



16,839



5-20Equipment, furniture and fixtures


7,530



5,503



3-751,240



39,854Less: accumulated depreciation and amortization


(7,251
)


(4,525
)$
43,989


$
35,329   Financial
    Instruments
    Revenue
    Recognition
  Merchandising/Name,
    Image and Likeness Licensing Revenue:
    Royalty
    Income:
  Financial Reporting
    in the Record and Music Industry
 75




---



##### Table of Contents



CKX,
    INC.
  NOTES TO FINANCIAL STATEMENTS  (Continued)
    Television
    Revenue:
  00-2, Accounting by Producers or Distributors of Films (SOP 00-2). SOP 00-2:
  Sponsorship
    Revenue:
    Management
    and Production Services Revenue:
    Other
    Revenue:
    Television
    Production Costs
  SOP 00-2.
 76




---



##### Table of Contents



CKX,
    INC.
  NOTES TO FINANCIAL STATEMENTS  (Continued)
  SOP 00-2,
  Artist
    Advances and Recoupable Recording Costs
    Advertising
    Expense
    Website
    Development Costs
    Income
    Taxes
  Accounting for Income
    Taxes
  Accounting for Uncertainty in Income Taxes
  Foreign
    Currency
   77




---



##### Table of Contents



CKX,
    INC.
  NOTES TO FINANCIAL STATEMENTS  (Continued)
        Goodwill
    and Other Intangible Assets
  Goodwill and Other
    Intangible Assets
    Accounting for the
    Impairment or Disposal of Long-Lived Assets
  Equity
    Investments
       78




---



##### Table of Contents



CKX,
    INC.
  NOTES TO FINANCIAL STATEMENTS  (Continued)
  Share-Based
    Payments
    Impact
    of Recently Issued Accounting Standards
  Fair Value Measurements
  The Fair Value Option for
    Financial Assets and Financial Liabilities
  Business Combinations Noncontrolling Interests in Consolidated Financial
    Statements, an amendment of ARB No. 51
  5.
    Capital
    Structure    The
    RFX Investment
   79




---



##### Table of Contents



CKX,
    INC.
  NOTES TO FINANCIAL STATEMENTS  (Continued)
    Series B
    Convertible Preferred Stock
    
    Fair value of common stock of $7.67 per share, based on the
    average closing price for the three days following announcement
    of the acquisition of the Presley Business;
    An 8.5-year term for the Series B Convertible Preferred
    Stock, based on the fact that the instrument contains a one-year
    redemption period ending on August 7, 2013, after which
    re-pricing of the conversion price occurs;
    A stock price volatility factor of 38%, based on a review of the
    volatility of comparable companies operating in similar
    industries since the Company does not have data for a sufficient
    period to calculate a reliable rate of volatility based on its
    own stock price movements;
    A discount rate of 11.5%, based on credit spreads for high yield
    issues and a premium to reflect the junior position of the
    Series B Convertible Preferred Stock in the Companys
    capital structure; and
    No dividends on the common shares.         80




---



##### Table of Contents



CKX,
    INC.
  NOTES TO FINANCIAL STATEMENTS  (Continued)
        Series C
    Convertible Preferred Stock
  pari passu
    The
    Huff Alternative Fund, L.P. Investment
     81




---



##### Table of Contents



CKX,
    INC.
  NOTES TO FINANCIAL STATEMENTS  (Continued)
          Form S-3
  Public
    Offering of Common Stock
   82




---



##### Table of Contents



CKX,
    INC.
  NOTES TO FINANCIAL STATEMENTS  (Continued)
  6.
    Comprehensive
    Income (Loss)    Year Ended


Year Ended


Year EndedDecember 31,


December 31,


December 31,2007


2006


2005Net income (loss)

$
12,144


$
9,193


$
(5,904
)Other comprehensive income (loss):Foreign currency translation adjustments


4,317



29,889



(19,200
)Comprehensive income (loss)

$
16,461


$
39,082


$
(25,104
)     7.
    Earnings
    Per Share/Common Shares Outstanding  Earnings Per Share
    Year Ended December 31,2007


2006


2005Weighted average basic common shares outstanding (including
    redeemable restricted common stock)


96,901,172



92,529,152



71,429,858Incremental shares for assumed exercise of warrants and stock
    options


90,269



1,026,049



Weighted average diluted common shares outstanding (including
    redeemable restricted common stock)


96,991,441



93,555,201



71,429,858   8.
    Acquisitions  The
    Presley Business (Predecessor)
   83




---



##### Table of Contents



CKX,
    INC.
  NOTES TO FINANCIAL STATEMENTS  (Continued)
    world-class Elvis-themed
  19
    Entertainment
  IDOLS
        6-year
 84




---



##### Table of Contents



CKX,
    INC.
  NOTES TO FINANCIAL STATEMENTS  (Continued)
  MBST
    The
    Ali Business
      Pro
    Forma Information
    Year EndedDecember 31,2006


2005(In thousands, except per share information)Revenue

$
213,760


$
151,578Net income (loss) available to common stockholders

$
8,281


$
(21,398
)Net income (loss) per common share:Basic and diluted

$
0.09


$
(0.30
)    85




---



##### Table of Contents



CKX,
    INC.
  NOTES TO FINANCIAL STATEMENTS  (Continued)
  9.
    Intangible
    Assets and Goodwill    WeightedAverage


Gross





NetRemaining


Carrying


Accumulated


CarryingUseful Life


Amount


Amortization


AmountDefinite Lived Intangible Assets:Presley record, music publishing, film and video rights


12.1 years


$
28,900


$
(5,408
)

$
23,492Other Presley intangible assets


14.2 years



13,622



(3,990
)


9,63219 Entertainment IDOLS television programming, merchandising and
    sponsorship relationships


4.3 years



80,879



(30,930
)


49,94919 Entertainment other artist management, recording,
    merchandising, and sponsorship relationships


1.5 years



16,898



(11,347
)


5,551MBST artist contracts, profit participation rights and other
    intangible assets


3.9 years



4,270



(1,786
)


2,484$
144,569


$
(53,461
)

$
91,108     Balance atDecember 31,2007Indefinite Lived Intangible Assets:Trademarks, publicity rights and other intellectual property

$
90,764     Gross





NetCarrying


Accumulated


CarryingAmount


Amortization


AmountDefinite Lived Intangible Assets:Presley record, music publishing, film and video rights

$
28,900


$
(3,466
)

$
25,434Other Presley intangible assets


13,622



(2,715
)


10,90719 Entertainment IDOLS television programming, merchandising and
    sponsorship relationships


79,340



(18,812
)


60,52819 Entertainment other artist management, recording,
    merchandising, and sponsorship relationships


16,054



(7,126
)


8,928MBST artist contracts, profit participation rights and other
    intangible assets


4,270



(1,026
)


3,244$
142,186


$
(33,145
)

$
109,041Indefinite Lived Intangible Assets:Trademarks, publicity rights and other intellectual property









$
90,764    86




---



##### Table of Contents



CKX,
    INC.
  NOTES TO FINANCIAL STATEMENTS  (Continued)
    Years Ending December 31,

(In thousands)2008

$
18,8002009


17,1002010


16,3002011


15,1002012


5,700     2007ForeignBalance at


Currency





Balance atDecember 31,


Translation


Other


December 31,2006


Adjustment


Adjustments


2007Presley royalties and licensing

$
14,413


$



$



$
14,413Presley Graceland operations


10,166











10,16619 Entertainment


123,742



2,390



(4,804
)


121,328MBST


10,097











10,097Ali Business










4,450



4,450Total

$
158,418


$
2,390


$
(354
)

$
160,454       10.
    Debt         87




---



##### Table of Contents



CKX,
    INC.
  NOTES TO FINANCIAL STATEMENTS  (Continued)
        Years Ending December 31,

(In thousands)2008

$
6522009


4852010


4462011


100,4702012


495Thereafter


522$
103,070   11.
    Stockholders
    Equity    12.
    Share-Based
    Payments    Restricted
    Stock Grants
     88




---



##### Table of Contents



CKX,
    INC.
  NOTES TO FINANCIAL STATEMENTS  (Continued)
      Stock
    Option Grants
          2007


2006


2005Risk-free average interest rate


4.5
%


5.0
%


4.0
%Volatility


39.0
%


38.0
%


38.0
%Expected life (years)


6.5



7.5



5.0Dividend yield


0.0
%


0.0
%


0.0
%Weighted average grant date fair value

$
5.71


$
5.75


$
4.84    89




---



##### Table of Contents



CKX,
    INC.
  NOTES TO FINANCIAL STATEMENTS  (Continued)
    2007


2006


2005Weighted





Weighted





WeightedAverage





Average





AverageOptions


Exercise Price


Options


Exercise Price


Options


Exercise PriceBalance outstanding at beginning of year


440,000


$
12.97



259,500


$
12.20



Granted


124,500


$
12.02



218,000


$
13.88



261,500


$
12.20Exercised






















Forfeited


(49,500
)

$
12.85



(37,500
)

$
12.87



(2,000
)

$
12.20Balance outstanding at end of year


515,000


$
12.75



440,000


$
12.97



259,500


$
12.20Balance exercisable at end of year


2,667


$
13.56Balance expected to vest at end of year


450,333


$
12.76       13.
    Income
    Taxes    PredecessorYear Ended


Year Ended


Year Ended



January 1-December 31,


December 31,


December 31,



February 7,(In thousands)

2007


2006


2005



2005Domestic operations

$
(394
)

$
(9,692
)

$
(3,334
)


$
347Foreign operations


41,387



26,504



(1,262
)



Total income (loss) before income taxes

$
40,993


$
16,812


$
(4,596
)


$
347  90




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##### Table of Contents



CKX,
    INC.
  NOTES TO FINANCIAL STATEMENTS  (Continued)
    PredecessorYear Ended


Year Ended


Year Ended



January 1-December 31,


December 31,


December 31,



February 7,(In thousands)

2007


2006


2005



2005Current provision (benefit)Federal

$
3,448


$
2,089


$




$
128Foreign


15,134



5,030



11




State


2,652



1,068



732




3021,234



8,187



743




158Deferred provision (benefit)Federal


2,474



(368
)


(12
)



(6
)Foreign


(4,253
)


(1,484
)


51




State


(23
)


(157
)


73




(1,802
)


(2,009
)


112




(6
)Total income tax expenses

$
19,432


$
6,178


$
855



$
152     PredecessorYear Ended


Year Ended


Year Ended



January 1-December 31,


December 31,


December 31,



February 7,(In thousands)

2007


2006


2005



2005Expense (benefit) at statutory federal rate

$
14,346


$
5,884


$
(1,609
)


$
121Effect of state and local income taxes


1,350



1,002



523




31Foreign earnings


932



686



(222
)



Valuation allowance






(2,947
)


2,748




Income taxed directly to minority interests


(558
)


(378
)


(353
)



Foreign exchange






1,154








Non-deductible transaction related costs


1,586












Other permanent differences


1,776



777



(232
)



Income tax expense

$
19,432


$
6,178


$
855



$
152  91




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##### Table of Contents



CKX,
    INC.
  NOTES TO FINANCIAL STATEMENTS  (Continued)
    December 31,


December 31,2007


2006(In thousands)Deferred income tax assets:CurrentInventory

$
332


$
334Accounts receivable


659



426Deferred revenue


302



Current deferred income tax assets


1,293



760Non-currentFuture foreign tax credits


23,116



28,104Net operating loss carryforwards/unremitted earnings


(111
)


781Deferred revenue


618



616Other


163



281Non-current deferred income tax assets, gross


23,786



29,782Less: valuation allowance


(23,116
)


(28,583
)Non-current deferred income tax assets, net


670



1,199Deferred tax liabilities:Intangible asset basis difference


(38,483
)


(39,679
)Property and equipment


(186
)


(1,061
)Other


586



(355
)Total deferred income tax liabilities


(38,083
)


(41,095
)Total deferred income tax assets (liabilities), net

$
(36,120
)

$
(39,136
)   EITF 93-7, Uncertainties Related to Income Taxes in a Purchase Business
    Combination.
       92




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##### Table of Contents



CKX,
    INC.
  NOTES TO FINANCIAL STATEMENTS  (Continued)
    As PreviouslyReported


As CorrectedGoodwill

$
143,946


$
158,418Total Assets

$
474,645


$
489,117Deferred tax liabilities

$
26,623


$
41,095Total liabilities

$
76,681


$
91,153       (In thousands)Balance at January 1, 2007

$
Increases related to adoption of FIN 48


120Increases/(decreases) related to prior period positions


73Increases/(decreases) related to current period positions


Decreases due to settlements with taxing authorities


Decreases due to lapse of statute of limitations


Balance at December 31, 2007

$
193         14.
    Segment
    Information   93




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##### Table of Contents



CKX,
    INC.
  NOTES TO FINANCIAL STATEMENTS  (Continued)
       94




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##### Table of Contents



CKX,
    INC.
  NOTES TO FINANCIAL STATEMENTS  (Continued)
  Presley Business








CorporateRoyalties and


Graceland


19


Ali


andSegment Information

Licensing


Operations


Entertainment


Business


Other(1)


Total(Amounts in thousands)Year ended December 31, 2007:Revenue

$
21,883


$
40,879


$
192,962


$
6,151


$
4,902


$
266,777Operating income (loss)

$
9,364


$
5,019


$
50,254


$
2,718


$
(24,597
)

$
42,758Depreciation and amortization

$
2,582


$
2,089


$
16,916


$
51


$
913


$
22,551OIBDAN

$
11,981


$
7,172


$
67,417


$
2,784


$
(22,720
)

$
66,634Year ended December 31, 2006:Revenue

$
13,699


$
35,081


$
151,218


$
4,065


$
6,090


$
210,153Operating income (loss)

$
6,300


$
2,391


$
28,061


$
1,404


$
(18,261
)

$
19,895Depreciation and amortization

$
2,582


$
1,823


$
15,195


$
67


$
874


$
20,541OIBDAN

$
8,897


$
4,254


$
43,476


$
1,481


$
(16,620
)

$
41,488Year ended December 31, 2005:Revenue

$
19,470


$
28,618


$
70,567


$



$
1,950


$
120,605Operating income (loss)

$
6,037


$
4,065


$
815


$



$
(13,769
)

$
(2,852
)Depreciation and amortization

$
3,040


$
1,347


$
10,219


$



$
304


$
14,910OIBDAN

$
9,083


$
5,417


$
11,109


$



$
(12,820
)

$
12,789Period January 1, 2005 to February 7, 2005
    (Predecessor):Revenue

$
1,702


$
1,740


$



$



$



$
3,442Operating income (loss)

$
1,167


$
(705
)

$



$



$



$
462Depreciation and amortization

$



$
126


$



$



$



$
126OIBDAN

$
1,167


$
(579
)

$



$



$



$
588     (1)
    
    The operating loss in 2007 includes $5.3 million of merger
    and distribution-related costs. The operating loss in 2006
    includes $3.2 million of acquisition-related costs,
    consisting of third party due diligence costs for potential
    acquisitions that were not consummated. 95




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##### Table of Contents



CKX,
    INC.
  NOTES TO FINANCIAL STATEMENTS  (Continued)
  Presley Business








CorporateRoyalties and


Graceland


19


Ali


andLicensing


Operations


Entertainment


Business


Other


Total(Amounts in thousands)Asset Information:Segment assets at December 31, 2007

$
83,324


$
72,846


$
230,696


$
60,053


$
78,536


$
525,455Segment assets at December 31, 2006

$
85,686


$
64,931


$
222,122


$
54,806


$
61,572


$
489,117Investment in affiliates at December 31, 2007

$



$



$
1,311


$



$
6,175


$
7,486Investment in affiliates at December 31, 2006

$



$



$
1,793


$



$



$
1,793Purchase of property and equipment for year ended
    December 31, 2007

$



$
9,776


$
1,511


$
5


$
62


$
11,354Purchase of property and equipment for year ended
    December 31, 2006

$



$
8,748


$
1,690


$
11


$
235


$
10,684Purchase of property and equipment for year ended
    December 31, 2005

$



$
643


$
131


$



$
249


$
1,023Purchase of property and equipment for period January 1,
    2005 to February 7, 2005 (Predecessor)

$



$
2


$



$



$



$
2     PredecessorCompanyYear Ended


Year Ended


Year Ended



January 1, toDecember 31,


December 31,


December 31,



February 7,(Amounts in thousands)

2007


2006


2005



2005OIBDAN

$
66,634


$
41,488


$
12,789



$
588Depreciation and amortization


(22,551
)


(20,541
)


(14,910
)



(126
)Non-cash compensation


(1,325
)


(1,052
)


(731
)



Interest income


1,644



1,406



1,797




Interest (expense)


(5,590
)


(1,166
)


(4,617
)



(115
)Write-off of unamortized deferred loan costs










(1,894
)



Equity in earnings of affiliates


1,566



686



843




Other income (expense)


2,181



(3,323
)


2,970




Income tax expense


(19,432
)


(6,178
)


(855
)



(152
)Minority interest


(2,553
)


(2,127
)


(1,296
)



Loss from discontinued operations


(8,430
)











Net income (loss)

$
12,144


$
9,193


$
(5,904
)


$
195    96




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##### Table of Contents



CKX,
    INC.
  NOTES TO FINANCIAL STATEMENTS  (Continued)
      15.
    Commitments
    and Contingencies  Commitments
    (In thousands)Year Ending December 31,2008

$
4,4272009


4,4142010


3,6272011


2,8752012


2,938Thereafter


3,987$
22,268         (In thousands)Year Ending December 31,2008

$
16,0712009


15,6582010


4,1782011


1,4272012


560Thereafter


1,167$
39,061  97




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##### Table of Contents



CKX,
    INC.
  NOTES TO FINANCIAL STATEMENTS  (Continued)
    Contingencies
              16.
    Related
    Party Transactions     98




---



##### Table of Contents



CKX,
    INC.
  NOTES TO FINANCIAL STATEMENTS  (Continued)
    ® ®
      17.
    Retirement
    Plan    18.
    Unaudited
    Quarterly Financial Information      99




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##### Table of Contents



CKX,
    INC.
  NOTES TO FINANCIAL STATEMENTS  (Continued)
  For The Year Ended

First


Second


Third


FourthDecember 31, 2007

Quarter


Quarter


Quarter


Quarter


TotalRevenue

$
49,598


$
72,331


$
99,069


$
45,779


$
266,777Depreciation and amortization


5,572



5,526



5,658



5,795



22,551Operating income


8,120



13,570



20,205



863



42,758Other income (expense)


2



(388
)


(8
)


2,575



2,181Income tax expense (benefit)


4,809



9,105



4,256



1,262



19,432Equity in earnings (losses) of affiliates


377



(2,236
)


514



2,911



1,566Minority interest


(208
)


1,531



(1,032
)


(2,844
)


(2,553
)Net income


3,356



1,912



6,433



443



12,144Dividends on preferred stock


(456
)


(456
)


(456
)


(456
)


(1,824
)Net income (loss) available to commons shareholders


2,900



1,456



5,977



(13
)


10,320Basic and diluted income (loss) per common share

$
0.03


$
0.01


$
0.06


$



$
0.11Weighted average basic common shares outstanding


96,737,982



96,857,748



96,985,517



97,019,427



96,901,172Weighted average diluted common shares outstanding


96,947,282



96,949,853



97,087,081



97,019,427



96,991,441   For The Year Ended

First


Second


Third


FourthDecember 31, 2006

Quarter


Quarter


Quarter


Quarter


TotalRevenue

$
41,109


$
60,210


$
76,522


$
32,312


$
210,153Depreciation and amortization


4,737



5,117



5,309



5,378



20,541Operating income (loss)


5,528



14,299



12,222



(12,154
)


19,895Other expense


(151
)


(881
)


(861
)


(1,430
)


(3,323
)Income tax expense (benefit)


2,746



5,954



2,790



(5,312
)


6,178Equity (loss) in earnings of affiliates


(102
)


530



296



(38
)


686Minority interest


(162
)


(500
)


(372
)


(1,093
)


(2,127
)Net income (loss)


2,971



7,508



8,251



(9,537
)


9,193Dividends on preferred stock


(456
)


(456
)


(456
)


(456
)


(1,824
)Net income (loss) available to common shareholders


2,515



7,052



7,795



(9,993
)


7,369Basic income (loss) per common share

$
0.03


$
0.08


$
0.08


$
(0.11
)

$
0.08Diluted income (loss) per common share

$
0.03


$
0.07


$
0.08


$
(0.11
)

$
0.08Weighted average basic common shares outstanding


92,204,229



92,225,921



92,327,445



93,348,704



92,529,152Weighted average diluted common shares outstanding


96,205,957



96,225,503



96,096,416



93,348,704



93,555,201  100




---



##### Table of Contents



CKX,
    INC.
  NOTES TO FINANCIAL STATEMENTS  (Continued)
  19.
    Subsequent
    Events         101




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##### Table of Contents



ITEM 9.
    CHANGES
    IN AND DISAGREEMENTS WITH ACCOUNTANTS ON ACCOUNTING AND
    FINANCIAL DISCLOSURE    ITEM 9A.
    CONTROLS
    AND PROCEDURES  Disclosure
    Controls
    Rules 13a-15(e)
  Managements
    Annual Report on Internal Controls Over Financial
    Reporting
  Rules 13a-15(f)
        Rules 13a-15(f) 15d-15(f)
  Form 10-K.
 ITEM 9B.  OTHER
    INFORMATION   102




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##### Table of Contents



PART III  ITEM 10.
    DIRECTORS,
    EXECUTIVE OFFICERS AND CORPORATE GOVERNANCE  Form 10-K
    ITEM 11.
    EXECUTIVE
    COMPENSATION  Form 10-K
  ITEM 12.
    SECURITY
    OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT AND
    RELATED STOCKHOLDER MATTERS  Form 10-K
  ITEM 13.
    CERTAIN
    RELATIONSHIPS, RELATED TRANSACTIONS, AND DIRECTOR
    INDEPENDENCE  Form 10-K
  ITEM 14.
    PRINCIPAL
    ACCOUNTING FEES AND SERVICES  Form 10-K
 103




---



##### Table of Contents



PART IV  ITEM 15.
    EXHIBITS,
    FINANCIAL STATEMENTS AND SCHEDULES  Financial
    Statements
    Financial
    Statement Schedule
   104




---



##### Table of Contents



Financial
    Statement Schedule
  SCHEDULE II
  CKX,
    Inc.
  VALUATION AND QUALIFYING ACCOUNTS
 YEARS ENDED DECEMBER 31, 2007, 2006 AND 2005
 (DOLLARS IN THOUSANDS)
  Balance at


Additions ChargedBeginning of


(Credited) to Costs


Additions Charged





Balance atDescription

Period


and Expenses


to Other Accounts


Deductions


End of Period2007Accounts receivableAllowance for doubtful accounts

$
457


$
588


$
(38
)

$
(175
)

$
832Inventory Allowance for obsolescence


636



32







(41
)


627Deferred taxesValuation allowance


28,583



(479
)


(4,988
)






23,116Total

$
29,676


$
141


$
(5,026
)

$
(216
)

$
24,5752006Accounts receivable Allowance for doubtful accounts

$
7


$
251


$
227


$
(28
)

$
457Inventory Allowance for obsolescence


394



296







(54
)


636Deferred taxes Valuation allowance


31,405



(2,947
)


125







28,583Total

$
31,806


$
(2,400
)

$
352


$
(82
)

$
29,6762005Accounts receivable Allowance for doubtful accounts

$



$
27


$



$
(20
)

$
7Inventory Allowance for obsolescence






394











394Deferred taxes Valuation allowance










31,405







31,405Total

$



$
421


$
31,405


$
(20
)

$
31,806  105




---



##### Table of Contents



Exhibits 
    Exhibit No.

Description2
.1

Agreement and Plan of Merger, dated as of June 1, 2007, by and
    among 19X, Inc., 19 Acquisition Corp. and CKX, Inc. (Previously
    filed as Exhibit 2.1 to the Form 8-K filed June 1, 2007, and
    incorporated herein by reference) (Pursuant to Item 601(b)(2) of
    Regulation S-K, the Company agrees to furnish, supplementally, a
    copy of any exhibit or schedule omitted from the Merger
    Agreement to the SEC upon request.)2
.2

Amendment No. 1, dated as of August 1, 2007, to the Agreement
    and Plan of Merger, dated as of June 1, 2007, by and among 19X,
    Inc., 19X Acquisition Corp. and CKX, Inc. (Previously filed as
    Exhibit 2.1 to the Form 8-K filed August 1, 2007, and
    incorporated herein by reference.)2
.3

Amendment No. 2, dated as of September 27, 2007, to the
    Agreement and Plan of Merger, dated as of June 1, 2007 and
    amended as of August 1, 2007, by and among 19X, Inc., 19
    Acquisition Corp. and CKX, Inc. (Previously filed as Exhibit 2.1
    to the Form 8-K filed September 28, 2007, and incorporated
    herein by reference.)2
.4

Amendment No. 3, dated January 23, 2008, to the Agreement and
    Plan of Merger, dated as of June 1, 2007 and amended as of
    September 27, 2007 and August 1, 2007, by and among 19X, Inc.,
    19 Acquisition Corp. and CKX, Inc. (Previously filed as Exhibit
    2.1 to the Form 8-K filed January 24, 2008, and incorporated
    herein by reference.)2
.5

Management Cooperation Agreement, dated as of June 1, 2007, by
    and among CKX, Inc. and each of the stockholders set forth on
    Schedule I thereto (Previously filed as Exhibit 2.2 to the Form
    8-K filed June 1, 2007, and incorporated herein by reference.)2
.6

Amendment, dated July 18, 2007, to the Management Cooperation
    Agreement, dated June 1, 2007, by and among CKX, Inc. and each
    of the stockholders set forth on Schedule I to the Management
    Cooperation Agreement (Previously filed as Exhibit 2.3 to the
    Form 10-Q filed August 14, 2007, and incorporated herein by
    reference.)2
.7

Amendment No. 2, dated as of September 27, 2007, to the
    Management Cooperation Agreement dated as of June 1, 2007 and
    amended as of July 18, 2007 (Previously filed as Exhibit 2.2 to
    the form 8-K filed September 28, 2007, and incorporated herein
    by reference.)2
.8

Membership Interest Purchase Agreement of FX Luxury Realty, LLC
    dated as of June 1, 2007  (Previously filed as Exhibit 2.3 to
    the form 8-K filed June 1, 2007 and incorporated herein by
    reference.)2
.9

Amendment No. 1 dated as of June 18, 2007 to the Membership
    Interest Purchase Agreement, dated as of June 1, 2007
    (Previously filed as Exhibit 2.1 to the form 8-K filed June 19,
    2007 and incorporated herein by reference.)2
.10

Amendment No. 2, dated as of September 27, 2007 to the
    Membership Interest Purchase Agreement, dated as of June 1, 2008
    and amended as of June 18, 2007 by and among FX Luxury Realty,
    LLC, CKX, Flag Luxury Properties, LLC and FX Real Estate and
    Entertainment, Inc. (Previously filed as Exhibit 2.4 to the Form
    10-Q filed August 14, 2007, and incorporated herein by
    reference).2
.11

Repurchase Agreement dated as of June 1, 2007 by and between FX
    Luxury Realty, LLC, CKX, Inc., Flag Luxury Properties, LLC,
    Robert F.X. Sillerman, Brett Torino, Paul Kanavos  (Previously
    filed as Exhibit 2.3 to the form 8-K filed June 1, 2007 and
    incorporated herein by reference.)2
.12

Amendment dated June 18, 2007 to the Repurchase Agreement dated
    June 1, 2007.  (Previously filed as Exhibit 2.2 to the form 8-K
    filed June 19, 2007 and incorporated herein by reference.)2
.13

Amendment No. 2, dated as of September 27, 2007, to the
    Repurchase Agreement dated as of June 1, 2007 and amended June
    18, 2007  (Previously filed as Exhibit 2.3 to the Form 10-Q
    filed August 14, 2007, and incorporated herein by reference).3
.1

Certificate of Incorporation (Previously filed as Exhibit 3.1 to
    the Form 10-KSB filed March 31, 2006, and incorporated herein by
    reference).3
.2

Bylaws (Previously filed as Exhibit 3.2 to the Form 10-KSB filed
    March 31, 2006, and incorporated herein by reference). 106




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##### Table of Contents



Exhibit No.

Description4
.1

Registration Rights Agreement, dated February 7, 2006 between
    the Company and The Huff Alternative Fund, L.P. (Previously
    filed as Exhibit 4.4 to the Form 8-K/A filed February 11, 2006,
    and incorporated herein by reference).4
.2

Registration Rights Agreement, dated February 7, 2006 between
    the Company and The Promenade Trust (Previously filed as Exhibit
    4.5 to the Form 8-K/A filed February 11, 2006, and incorporated
    herein by reference).4
.3

Registration Rights Agreement, dated March 17, 2006, by and
    among the Company, Simon Robert Fuller and Fuller Nominees
    Limited (Previously filed as Exhibit 4.2 to the Form 10-QSB
    filed May 16, 2006, and incorporated herein by reference).4
.4

Form of Common Stock Purchase Warrant, dated as of February 7,
    2006, to purchase shares of common stock of the Company
    (Previously filed as Exhibit 4.6 to the Form 8-K/A filed
    February 11, 2006, and incorporated herein by reference).4
.5

Form of Promissory Term Note made on February 7, 2006, payable
    to Priscilla Presley (Previously filed as Exhibit 4.8 to the
    Form 8-K/A filed February 11, 2006, and incorporated herein by
    reference).4
.6

Letter Agreement, dated June 6, 2006 among the Company, The Huff
    Alternative Fund, L.P. and The Huff Alternative Parallel Fund,
    L.P. (Previously filed as Exhibit 4.9 to Amendment No. 3 to Form
    S-1/A (Registration Statement No. 333-123995) filed June 21,
    2006, and incorporated herein by reference).10
.1

Lease Agreement, dated as of February 7, 2006, by and between
    The Promenade Trust and the Company with respect to the
    Graceland property (Previously filed as Exhibit 10.9 to the Form
    8-K/A filed February 11, 2006, and incorporated herein by
    reference).10
.2

Elvis Presley Enterprises, Inc. Shareholders Agreement, dated as
    of February 7, 2006 (Previously filed as Exhibit 10.10 to the
    Form 8-K/A filed February 11, 2006, and incorporated herein by
    reference).10
.3

Amended and Restated Operating Agreement of Elvis Presley
    Enterprises, LLC, dated as of February 7, 2006 (Previously filed
    as Exhibit 10.11 to the Form 8-K/A filed February 11, 2006, and
    incorporated herein by reference).10
.4

Bridge Loan Credit Agreement dated as of February 7, 2006 among
    the Company, EPE Holding Corporation, certain financial
    institutions or entities from time to time, Bear, Stearns &
    Co., Inc., as sole lead arranger, and Bear Stearns Corporate
    Lending Inc., as administrative agent (Previously filed as
    Exhibit 10.12 to the Form 8-K/A filed February 11, 2006, and
    incorporated herein by reference).10
.6

Agreement for the sale and purchase of the entire issued share
    capital of 19 Entertainment Limited, dated March 17, 2006 among
    Simon Robert Fuller, Fuller Nominees LTD, Ingenious Ventures
    LTD, the Company and CKX UK Holdings Limited (Previously filed
    as Exhibit 10.21 to the Form 10-QSB for the three months ended
    March 31, 2006, and incorporated herein by reference).10
.7

Amended and Restated Bridge Loan Credit Agreement, dated as of
    March 17, 2006, among the Company, EPE Holding Corporation, the
    several banks and other financial institutions or entities from
    time to time, Bear, Stearns & Co. Inc., as sole lead
    arranger, and Bear Stearns Corporate Lending Inc., as
    administrative agent (Previously filed as Exhibit 10.13 to the
    Form 10-QSB for the three months ended March 31, 2006, and
    incorporated herein by reference).10
.8

Agreement (the Fox Letter Agreement) between 19 TV
    Limited, FremantleMedia North America, Inc. and Fox Broadcasting
    Company, dated April 22, 2002 (Previously filed as Exhibit 10.15
    to Amendment No. 3 to Form S-1/A (Registration Statement No.
    333-123995) filed June 21, 2006, and incorporated herein by
    reference).10
.9

Letter Agreement, between Pearson Television Operations BV,
    (predecessor in interest to FremantleMedia North America, Inc.)
    and 19 TV Limited, dated July 6, 2001 (Previously filed as
    Exhibit 10.16 to Amendment No. 3 to Form S-1/A (Registration
    Statement No. 333-123995) filed June 21, 2006, and incorporated
    herein by reference).10
.10

Agreement (the SonyBMG Agreement), between 19
    Recordings Limited and Ronagold Limited, dated February 8, 2002,
    as amended (Previously filed as Exhibit 10.17 to Amendment No. 3
    to Form S-1/A (Registration Statement No. 333-123995) filed June
    21, 2006, and incorporated herein by reference). 107




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##### Table of Contents



Exhibit No.

Description10
.9

Agreement, between 19 TV Limited, FremantleMedia North America,
    Inc. and Fox Broadcasting Company, amending the Fox Letter
    Agreement, dated May 15, 2003 (Previously filed as Exhibit 10.23
    to Amendment No. 3 to Form S-1/A (Registration Statement No.
    333-123995) filed June 21, 2006, and incorporated herein by
    reference).10
.10

Letter Agreement between 19 Recordings Limited and Ronagold
    Limited, amending the SonyBMG Agreement, dated October 14, 2004
    (Previously filed as Exhibit 10.24 to Amendment No. 3 to
    Form S-1/A
    (Registration Statement No. 333-123995) filed June 21, 2006, and
    incorporated herein by reference).10
.11

Amended and Restated Employment Agreement between the Company
    and Robert F.X. Sillerman (filed herewith).10
.12

Employment Agreement between the Company and Mitchell J. Slater
    (Previously filed as Exhibit 10.19 to Form S-1 filed April 11,
    2006, and incorporated herein by reference).10
.13

Employment Agreement between the Company and Howard J. Tytel
    (Previously filed as Exhibit 10.20 to Form S-1 filed April 11,
    2006, and incorporated herein by reference).10
.14

Amended and Restated Employment Agreement between the Company
    and Thomas P. Benson (filed herewith).10
.15

Employment Agreement between the Company and Michael G. Ferrel
    (Previously filed as Exhibit 10.27 to Amendment No. 1 to Form
    S-1/A (Registration Statement No. 333-123995) filed May 19,
    2006, and incorporated herein by reference).10
.16

Directors Service Agreement, dated March 17, 2006 between
    19 Entertainment Limited and Simon Robert Fuller (Previously
    filed as Exhibit 10.19 to the Form 10-QSB for the three months
    ended March 31, 2006, and incorporated herein by reference).10
.17

Confidentiality, Non-Competition, Non-Solicitation, and
    Non-Recruitment Agreement, dated as of March 17, 2006 by and
    between Simon Robert Fuller, the Company and CKX UK Holdings
    Limited (Previously filed as Exhibit 10.20 to the Form 10-QSB
    for the three months ended March 31, 2006, and incorporated
    herein by reference).10
.18

Shareholders Agreement dated June 22, 2004 between 19
    Merchandising Limited, David Beckham, Victoria Beckham and
    Beckham Brand Limited (Previously filed as Exhibit 10.28 to
    Amendment No. 1 to Form S-1/A (Registration Statement No.
    333-123995) filed May 19, 2006, and incorporated herein by
    reference).10
.19

Revolving Credit Facility Commitment Letter, dated June 2, 2006,
    among the Company, Bear, Stearns & Co. Inc., Bear Stearns
    Corporate Lending Inc., Credit Suisse, Lehman Commercial Paper
    Inc. and The Bank of New York (Previously filed as Exhibit 10.29
    to Amendment No. 2 to Form S-1/A (Registration Statement No.
    333-123995) filed June 6, 2006, and incorporated herein by
    reference.10
.20

Agreement among 19 Recordings Limited, 19 TV Limited, Simco
    Limited, CKX UK Holdings Limited, 19 Entertainment Limited and
    Sony BMG Music Entertainment (UK) Limited, dated November 28,
    2006 (Previously filed as Exhibit 10.31 to the Form 10-Q for the
    three months ended June 30, 2007, and incorporated herein by
    reference).10
.21

Agreement between 19 Recordings Limited and Ronagold Limited,
    dated November 28, 2006, amending the terms of the SonyBMG
    Agreement (Previously filed as Exhibit 10.32 to the Form 10-Q
    for the three months ended June 30, 2007, and incorporated
    herein by reference).10
.22

Binding Heads of Terms among Fox Broadcasting Company,
    FremantleMedia North America Inc. and 19 TV Limited regarding
    the American Idol television series (Previously filed as
    Exhibit 10.33 to the Form 10-Q for the three months ended June
    30, 2007, and incorporated herein by reference).10
.23

Revolving Credit Agreement, dated as of May 24, 2007, among the
    Company, the several banks and other financial institutions or
    entities from time to time parties thereto, Bear, Stearns &
    Co. Inc., as exclusive advisor, sole lead arranger and sole
    bookrunner, UBS Securities LLC and The Bank of New York, as
    co-syndication agents, Lehman Commercial Paper, Inc. and Credit
    Suisse, as codocumentation agents and Bear Stearns Corporate
    Lending Inc., as administrative agent (Previously filed as
    Exhibit 10.1 to the Form 10-Q for the three months ended June
    30, 2007, and incorporated herein by reference). 108




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##### Table of Contents



Exhibit No.

Description10
.24

First Amendment and Waiver dated as of February 20, 2007 to the
    Credit Agreement, dated as of May 24, 2006 (Previously filed as
    Exhibit 10.2 to the form 10-Q dated November 8, 2007 and
    incorporated herein by reference.)10
.25

Second Amendment dated as of June 1, 2007 to the Credit
    Agreement, dated as of May 24, 2006 as amended February 20,2007
    (Previously filed as Exhibit 10.2 to the form 10-Q dated
    November 8, 2007 and incorporated herein by reference.)10
.26

Third Amendment dated as of September 27, 2007 to the Credit
    Agreement, dated as of May 24, 2006 as amended February 20,2007
    and June 1, 2007. (Previously filed as Exhibit 10.1 to the form
    10-Q dated November 8, 2007 and incorporated herein by
    reference.)10
.27

Letter Agreement, dated April 10, 2007, among the Company, CKX
    G.O.A.T. Holding Corp. (formerly GOAT Acquisition, Inc.)
    Muhammad Ali Enterprises LLC (formerly G.O.A.T. LLC), G.O.A.T.,
    Inc. and Muhammad Ali and Yolanda E. Ali, each individually and
    as trustees of the Muhammad Ali Family Trust, dated October 22,
    2002 (Previously filed at Exhibit 10.2 to the Form 10-Q for the
    three months ended June 30, 2007, and incorporated herein by
    reference).10
.28

License Agreement between Elvis Presley Enterprises, Inc. and FX
    Luxury Realty, LLC, dated as of June 1, 2007 (Previously filed
    as Exhibit 10.1 to the Form 10-Q filed August 14, 2007, and
    incorporated herein by reference).10
.29

Amendment No. 1, dated November 16, 2007, to the License
    Agreement between Elvis Presley Enterprises, Inc. and FX Luxury
    Realty, LLC, dated as of June 1, 2007 (Filed herewith).10
.30

License Agreement between Muhammad Ali Enterprises LLC and FX
    Luxury Realty, LLC, dated as of June 1, 2007 (Previously filed
    as Exhibit 10.2 to the Form 10-Q filed August 14, 2007, and
    incorporated herein by reference).10
.31

Amendment No. 1, dated November 16, 2007, to the License
    Agreement between Muhammad Ali Enterprises LLC and FX Luxury
    Realty, LLC, dated as of June 1, 2007 (Filed herewith).14
.1

Code of Ethics (Previously filed as Exhibit 14.1 to the Form
    8-K/A filed February 11, 2006, and incorporated herein by
    reference).21
.1

List of Subsidiaries (Filed herewith).23
.1

Consent of Deloitte & Touche LLP relating to CKX, Inc.23
.2

Consent of Deloitte & Touche LLP relating to the Presley
    Business.31
.1

Certification of Principal Executive Officer (Filed herewith).31
.2

Certification of Principal Financial Officer (Filed herewith).32
.1

Section 1350 Certification of Principal Executive Officer (Filed
    herewith).32
.2

Section 1350 Certification of Principal Financial Officer (Filed
    herewith).  109




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##### Table of Contents



SIGNATURES
    CKX,
    Inc.
  By:

/s/  ROBERT
    F.X. SILLERMAN

March 3, 2008Robert F.X. Sillerman
    Chief Executive Officer and Chairman of the BoardBy:

/s/  THOMAS
    P. BENSON

March 3, 2008Thomas P. Benson
    Chief Financial Officer, Executive Vice President and Treasurer     By:

/s/  ROBERT
    F.X. SILLERMAN

March 3, 2008Robert F.X. Sillerman, Chairman of the BoardBy:

/s/  MICHAEL
    G. FERREL

March 3, 2008Michael G. Ferrel, DirectorBy:

/s/  MITCHELL
    J. SLATER

March 3, 2008Mitchell J. Slater, DirectorBy:

/s/  HOWARD
    J. TYTEL

March 3, 2008Howard J. Tytel, DirectorBy:

/s/  EDWIN
    M. BANKS

March 3, 2008Edwin M. Banks, DirectorBy:

/s/  EDWARD
    BLEIER

March 3, 2008Edward Bleier, DirectorBy:

/s/  JERRY
    L. COHEN

March 3, 2008Jerry L. Cohen, DirectorBy:

/s/  SIMON
    FULLER

March 3, 2008Simon Fuller, DirectorBy:

/s/  CARL
    D. HARNICK

March 3, 2008Carl D. Harnick, DirectorBy:

/s/  JACK
    LANGER

March 3, 2008Jack Langer, DirectorBy:

/s/  JOHN
    D. MILLER

March 3, 2008John D. Miller, DirectorBy:

/s/  BRUCE
    MORROW

March 3, 2008Bruce Morrow, DirectorBy:

/s/  PRISCILLA
    PRESLEY

March 3, 2008Priscilla Presley, Director  110




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##### Table of Contents



INDEX TO
    EXHIBITS
  Exhibit No.

Description10
.11

Amended and Restated Employment Agreement between the Company
    and Robert F.X. Sillerman10
.14

Amended and Restated Employment Agreement between the Company
    and Thomas P. Benson10
.29

Amendment No. 1, dated November 16, 2007, to the
    License Agreement between Elvis Presley Enterprises, Inc. and FX
    Luxury Realty, LLC, dated as of June 1, 200710
.31

Amendment No. 1, dated November 16, 2007, to the
    License Agreement between Muhammad Ali Enterprises LLC and FX
    Luxury Realty, LLC, dated as of June 1, 200721
.1

List of Subsidiaries23
.1

Consent of Deloitte & Touche LLP relating to CKX, Inc.23
.2

Consent of Deloitte & Touche LLP relating to the
    Presley Business31
.1

Certification of Principal Executive Officer31
.2

Certification of Principal Financial Officer32
.1

Section 1350 Certification of Principal Executive Officer32
.2

Section 1350 Certification of Principal Financial Officer