Chunk Of Elvis Presley's Estate Sold

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Singer Lisa Marie Presley has sold of the bulk of her father ELVIS' estate in a deal worth $100 million (GBP52.6 million).

Impresario ROBERT FX SILLERMAN has agreed to buy 85 per cent of ELVIS PRESLEY ENTERPRISES, including rights to the singer's name and the management of his Graceland mansion in Tennessee.

As well as running Graceland, Elvis' home in Memphis, Sillerman will own his name and likeness, the rights to his photographs and revenue from his music, TV shows and films.

The title to Graceland and its surrounding property, including most of Elvis' personal effects, will remain with Lisa Marie. Graceland's visitor complex and Heartbreak Hotel across the street will be sold.

Elvis, who died at Graceland in 1977, starred in 31 films and has sold over a billion records. His estate generated $45 million (GBP23.6 million) in revenue in 2003 and $38 million (GBP20 million) in the first three quarters of this year (04).

Lisa Marie says, "My greatest responsibility to my father is to preserve and protect his legacy, and this is an exciting new structure that opens up an incredible array of opportunities."

Priscilla Presley, Lisa Marie's mother and Elvis' former wife, will remain executive consultant to the business.

17/12/2004 03:47

Contactmusic

Tags: Lisa Marie Presley - Elvis Presley - Priscilla Presley

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juliepresleyfan's picture

juliepresleyfan

I dont agree with Lisa Marie selling of her fathers things, why would she do that, why not just hire someone to do what she feels she obviously cant.I heard somewhere that it was all going pearshaped for her and she was maybe out of her depth maybe, then debts started racking up.hope the sillwerman man will bring Ep enterprises to England too and maybe start a few shops so we can buy epe Enterprises products hear for a reasonable price.hope she dont regret what she did, do in haste repent at leasure.i know it was done a while ago but hope it goes well and us fans here dont lose out somewhere.julie TCB
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