Ex-Spice Girls boss Simon Fuller has joined hands with an ex-Barclays Capital banker to buy a company that owns the rights to American Idol.
Fuller is leading a group of investors reported to be offering a $600 million bid to acquire the company, reports the BBC news.
A company that has been owned by Fuller created the Idol franchise but later in 2005 was sold to CKX Inc. American Idol has run for nine years and produced celebrities including Kelly Clarkson, Kris Allen and Taylor Hicks.
CKX's founder, chairman and chief executive Robert FX Sillerman resigned earlier this month and expressed his desire to buy the company as his 21% stake makes him its largest shareholder.
Former Barclays Capital banker Roger Jenkins was one of the investors joining Fuller in the CKX bid, said The Wall Street Journal.