American Idol Owner Reports $16 Million Loss
Posted on Fri Mar 11, 2011 11:31 AM PDT

american-idol02000.jpgLOS ANGELES, California (X17online) - American Idol owner Los Angeles-based CKX has reported a $15.7 million loss last year, compared to a $22.8 million profit the year before.

CKX has closed 19’s offices in London and New York, and revenue fell in 2010 by 17% to $273.7 million.

Despite the finical loss for CKX, last week’s American Idol boasted the highest ratings of any TV network show in the past four years.