19 makes London cuts

15:32 | Friday March 5, 2010

The company, which famously produces American Idol, has around 160 staff around the world with offices in Los Angeles, New York and London.

It is understood that, with the majority of the company’s business now coming out of the US, CKX has decided to reduce staff numbers at the London offices, with staff being offered voluntary redundancy.

Last March 19 Entertainment revealed sales of $223m (£148m) for the year to the end of December and profits of $92.5m (£61.5m), a 40% increase. This year it expects to reveal profits of around £80m.

The move follows 19 founder Simon Fuller’s decision to leave the company he created in 1985, to set up a new company XIX.

CKX, which bought 19 in 2005, is currently considering an option to buy up to 30% of the shares in XIX. The formal launch of the company will be delayed until a decision has been made.

It is understood that a number of people in 19’s London office may join XIX.