British pop mogul Simon Fuller has sold his successful 19 ENTERTAINMENT company to the US firm that recently purchased a giant share of Elvis Presley's estate.

The Pop Idol mastermind's firm has been bought by entrepreneur ROBERT SILLERMAN's SPORTS ENTERTAINMENT ENTERPRISES, which is to be renamed CFX, in a $156 million (GBP82.1 million) deal.

The 19 company handles a roster of music artists, TV shows and Public Relations strategies for stars including VICTORIA and David Beckham.

Fuller - who will receive $123 million (GBP64.5 million) in cash and around 1.9 million shares in CFX - has signed a contract with the company and will continue to expand and create entertainment brands.

He says, "This is a hugely exciting new partnership for myself and 19 Entertainment. CFX will provide 19 with a powerful platform for global growth and allow us to fully take advantage of all the amazing opportunities that lie ahead. I cannot wait to get started."

Fuller - who was the driving force behind pop phenomenon the SPICE GIRLS - set up 19 15 years ago, naming the firm after his first successful single, 19, by PAUL HARDCASTLE.

Sports Entertainment Enterprises recently hit the headlines when it bought an 85 per cent share in the Graceland estate of rock 'n' roll king Presley.

18/03/2005 19:34