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Covington Advises Gleacher & Company on CKx, Inc. Sale to Apollo Global Management


NEW YORK, May 10, 2011 — CKx, Inc., an owner of premium entertainment content, today announced that it has entered into a definitive merger agreement to be acquired by an affiliate of Apollo Global Management, a leading global alternative asset manager. Covington & Burling LLP advised Gleacher & Company, Inc., financial advisor to CKx, on the transaction.

Under the terms of the agreement, CKx stockholders will receive $5.50 in cash for each share that they hold, representing an approximately 40 percent premium over CKx's average closing price over the past six months and an approximately 25 percent premium over the closing price on Monday, May 9, 2011.

Gleacher & Company is an independent, full service investment bank that provides corporate and institutional clients with strategic, research-based investment opportunities, capital raising, and financial advisory services.

The New York-based Covington corporate team was led by partner J. D. Weinberg, with associate Richard Kruger.

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