Item 7.01. Regulation FD Disclosure
The following information is furnished herewith:
As previously disclosed, on March 3, 2008, FX Real Estate and Entertainment Inc. (the "Company") entered into a Call Agreement (the "Option Agreement") with 19X, Inc. ("19X"), pursuant to which, in consideration for annual option payments totaling $105 million, FXRE was granted the right to acquire an 85% interest in the Elvis Presley business currently owned and operated by CKX, Inc. ("CKX") through its Elvis Presley Enterprises subsidiaries ("EPE") at an escalating price over time. The effectiveness of the Option Agreement was conditioned upon the closing of the merger between CKX and 19X.
CKX, Inc. ("CKX") has announced that, on November 1, 2008, the merger agreement between CKX and 19X was terminated. As a result, the Option Agreement has terminated and thereafter will have no force and effect. Due to the termination of the Option Agreement, the Company no longer has any right to acquire the 85% interest in the Elvis Presley business held by EPE or any obligation to make the annual option payments to 19X.
In addition, the previously disclosed agreement between the Company and 19X, dated as of March 3, 2008, to amend the License Agreement between EPE and the Company (the "License Amendment") has also terminated and will have no further force and effect, as the effectiveness of the License Amendment was also conditioned upon the closing of the merger between CKX and 19X.

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