Robert Sillerman Has A New Venture ... Function (X)
February 9, 2011 at 8:31 AM (PT)
The founder of the company that owns "American Idol" -- and the man who launched SFX ENTERTAINMENT -- is apparently back in the game. THE NEW YORK POST reports ROBERT F.X. SILLERMAN "took control of dormant public company GATEWAY INDUSTRIES YESTERDAY (2/8) and sent its stock soaring from about 2 cents a share to nearly $3 after he said the company would be the launching pad for a new venture."
What kind of venture? Broadcasting? Music? SILLERMAN isn't saying -- but we do know the new company will be named "FUNCTION (X)."
SILLERMAN sold SFX ENTERTAINMENT to CLEAR CHANNEL COMMUNICATIONS in 2000 for $4 billion. He was the CEO of CKX when that company bought 19 ENTERTAINMENT, which developed "American Idol."
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