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Bacardi
Dec 17th, 2004, 08:40 PM
Lisa Marie Sells Presley

Elvis' only heir sells rights to father's name and image



Lisa Marie Presley, Elvis Presley's daughter and sole heir, is selling eighty-five percent of her father's estate, including rights to his name and image, to the founder of music and sports promoter SFX Entertainment, Robert F.X. Sillerman. (SFX was bought by Clear Channel in 2000.)
Sillerman claims that the estate, which brought in $45 million in 2004, can earn much more if marketed aggressively. The estate, formerly Elvis Presley Enterprises Inc., will now become part of a publicly traded company called CKX Inc.

Lisa Marie will receive shares in the new company, and will keep the Graceland estate, its surrounding thirteen acres and her father's personal possessions. Tours of Graceland, which draws 650,000 visitors each year, will continue.

"For the past few years," Lisa Marie said in a statement, "I have been looking for someone to join forces with to expand the many facets of [Elvis Presley Enterprises], to take it to new levels internationally and to make it an even greater force in the entertainment industry."

Priscilla Presley, Lisa Marie's mother and Elvis' widow, created Elvis Presley Enterprises in 1980, and she will be a consultant to Sillerman and CKX.



ALEX MAR
(Posted Dec 17, 2004)

Barrie_Dude
Dec 17th, 2004, 08:40 PM
This is sad

Bacardi
Dec 17th, 2004, 08:40 PM
Lisa Marie Presley Selling Elvis Estate

Fri Dec 17, 9:58 AM ET

By WOODY BAIRD, Associated Press Writer

MEMPHIS, Tenn. - Lisa Marie Presley (news) is keeping Graceland but selling the bulk of the Elvis estate, including rights to her father's name and image, in a deal worth approximately $100 million.


AP Photo



Elvis Presley Enterprises Inc. announced an agreement Thursday to sell 85 percent of its assets to businessman Robert F.X. Sillerman, founder of music and sports promoter SFX Entertainment.


The Presley estate brought in almost $45 million last year. Sillerman said more aggressive marketing, supported by capital raised through a new publicly traded company, can make Elvis an even bigger earner.


Presley occupies a unique place in American pop culture, and "I don't think there's much likelihood his influence is going to wane anytime in my lifetime," Sillerman said by telephone from New York, where he runs the Sillerman Companies.


As Presley's only child, Lisa Marie is the sole heir to the estate, most of which is now to become part of a publicly traded company that will be called CKX Inc.


The agreement will pay her $53 million in cash and absolve her of $25 million in debts owed by the estate. She also is to get shares in the new company expected to be worth more than $20 million.


Lisa Marie will retain possession of her father's home, its more than 13 acres of land and many of her father's "personal effects," an announcement on the agreement said.


"For the past few years, I've been looking for someone to join forces with to expand the many facets of (Elvis Presley Enterprises), to take it to new levels internationally and to make it an even greater force in the entertainment industry," Ms. Presley, also a singer, said in a statement.


Tours of Graceland, which gets 650,000 visitors a year, will continue unchanged. The throngs of fans drawn to Memphis each August on the anniversary of Presley's 1977 death will notice little different, Sillerman said.


Although Elvis already ranks No. 1 on the Forbes magazine list of top-earning dead celebrities, Sillerman said new markets and business opportunities may be available, including abroad.


"Does it make sense to invest in Elvis Presley enterprises in Japan? Does it make sense in Germany? Are there things that can be done in other jurisdictions in the United States?" he said. "The answer to some of the questions is obviously yes, we just don't know which ones."


Sillerman said the staff at Graceland will remain in place.


Elvis Presley Enterprises was created in 1980 by Priscilla Presley, the singer's ex-wife and mother of Lisa Marie, who was still a child then. She is to remain as a consultant to the new owners.


Sillerman founded SFX Entertainment in 1977 and ran the company until it was bought by Clear Channel Communications in 2000. He said he expected the sale to wrap up within two months, pending standard regulatory approval.

Helen Lawson
Dec 17th, 2004, 08:42 PM
That is sad, but at least she didn't sell it to that freak she was once married to and I don't mean Danny Keogh or Nicolas Cage.

PointBlank
Dec 17th, 2004, 08:43 PM
:rolls:..Lisa needs money to keep Graceland security paid..If anyone lives here they know the part of town its in now is not so good

Bacardi
Dec 17th, 2004, 08:44 PM
SHe's even giving up her father's Gold records. Something about this is just wrong, I knew Lisa Marie seemed like a smart ass, but a disrespectful brat is more like it. And how the hell did they have $25 mill in debt, when they were making $45 mill a year. Someone there didn't manage money properly. Elvis must be turning over in his grave!

Evelyn Tremble
Dec 17th, 2004, 08:53 PM
What a hound dog! This news has me all shook up. What's wrong with that girl, does she have a wooden heart?

Dave B
Dec 17th, 2004, 09:53 PM
What a hound dog! This news has me all shook up. What's wrong with that girl, does she have a wooden heart?

Give the girl some credit. It is a smart business decision, and its not like millions of dollars in assests capture elvis as a person or as her a father. If my mom were to die tommorow (god forbid), I would sell her house because I have no use for it and that house is not her. In much the same way, Lisa Marie is selling her dad's business earnings to someone that can extract more out of them...her memories of her father are something personal, and how she deals with that is really none of our business.

kiwifan
Dec 17th, 2004, 10:23 PM
SHe's even giving up her father's Gold records. Something about this is just wrong, I knew Lisa Marie seemed like a smart ass, but a disrespectful brat is more like it. And how the hell did they have $25 mill in debt, when they were making $45 mill a year. Someone there didn't manage money properly. Elvis must be turning over in his grave!
I'd look no further than her own "music career". :devil:

She probably footed all her own expenses (recording, travel, bribing journalist into giving her good reviews, "legit" PR services, etc.) behind the scenes. :lol: :lol: :tape:

Paneru
Dec 17th, 2004, 10:27 PM
It's her property to do
with as she pleases!

I personally don't see what's
so sad about it!

faboozadoo15
Dec 17th, 2004, 10:38 PM
Give the girl some credit. It is a smart business decision, and its not like millions of dollars in assests capture elvis as a person or as her a father. If my mom were to die tommorow (god forbid), I would sell her house because I have no use for it and that house is not her. In much the same way, Lisa Marie is selling her dad's business earnings to someone that can extract more out of them...her memories of her father are something personal, and how she deals with that is really none of our business.
i agree.
i don't see much wrong with it. all kinds of possessions don't do anything for her, so someone can put things to better use. go ahead.