Private equity giant Apollo Global Management is ready to step up its media and showbiz investing activity now that it is poised to name NBC alum Marc Graboff as prexy of its CKX unit.
CKX is the holding company that owns “American Idol” producer 19 Entertainment and rights to the name and likenesses of Elvis Presley and Muhammad Ali.
Graboff is the former NBC prexy of West Coast operations who exited the Peacock earlier this month. Apollo made a move in the entertainment arena in June with its $509 million acquisition of CKX. Since then the investment shingle run by Leon Black has shopped for a biz-savvy exec to help grow its assets.
The company is said to be eyeing an investment in at least one unscripted TV production company. Reps for Apollo and Graboff declined comment. Graboff was granted an early release from his NBC contract. He spent the past 11 years overseeing business operations for NBC Entertainment.