WP: Lisa Marie Presley Selling Elvis Estate (keeping Graceland)

[DeepModem Mom]

Lisa Marie Presley Selling Elvis Estate

By WOODY BAIRD
The Associated Press
Friday, December 17, 2004;


MEMPHIS, Tenn. - Lisa Marie Presley 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.

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....


http://www.washingtonpost.com/wp-dyn/articles/A6014-2004Dec16.html

[TaleWgnDg]

1. bub-bye Elvis !! n/t

[daleo]

2. Robert F.X. Sillerman, You Ain't Nothin but a Hound Dog. n/t

[pinniped]

3. Great, will Elvis will be selling soft drinks soon?

They already had Steve McQueen's image in a Mustang commercial and ePay butchered Frank Sinatra's song.

[InvisibleBallots]

4. MORE aggressive marketing of Elvis? How is that possible?

[Theres-a]

5. whoa!

sign of the times?

[Khephra]

6. Lisa Marie made Cage sell his comic collection

which was worth over $100,000. Supposedly that idea was influenced by her Scientology beliefs. I wonder if they had anything to do with pushing her into this sale and if so just how much of a cut they'll be getting.

[emad]

7. From BBC News:

Lisa Marie sells Presley estate

Snip:

Debts cleared


The agreement will pay her $53m (£27m) in cash and absolve her of $25m (£12m) in debts owed by the estate. She will also receive shares in the new company expected to be worth more than $20m (£10m).

Lisa Marie Presley, who was previously married to pop singer Michael Jackson and actor Nicolas Cage, launched her own recording career in 2003.

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

Sillerman said he expected the sale to be completed within two months, pending standard regulatory approval.

http://news.bbc.co.uk/1/hi/entertainment/music/4104203.stm
Maybe plea-bargain deal in return for testifying against her ex Michael Jackson, or is that way too cynical an idea????

[OneBlueSky]

8. the worst part of this is that the buyer is a subsidiary of . . .

Clear Channel . . . makes you want to cry . . .

[Theres-a]

9. truly sickening

[Bono71]

10. OK Public Enemy fans, all together now, ELVIS WAS A HERO

TO MOST...

[Theres-a]

12. fitting

its fitting that clear channel and that ilk would be in on this.its peas and carrots.

[henslee]

16. never meant doo-doo to me.. (won't leave you hanging, Bono)

[Bono71]

17. Thanks...much appreciated. I love that song.

[henslee]

18. Me too. Glad Chuck D is on radio. Happy flave is making a buck but

I don't know about his Surreal world gig. Wonder what Terminator X is doing. Heard PE have a new album coming out.

[MindLikeAParachute]

11. The curious part

Is that the guy sold his company to Clear Channel (although it's not "clear" that he has any involvement with Clear Channel itself).

In the entertainment biz it's probably not uncommon, at that level, to cross paths a lot, I guess. I'd be more worried if ClearChannel had their fingers on Elvis's image. What would come of that?

[Theres-a]

13. eek!

[DeepModem Mom]

14. You're right, MLaP -- he sold his company to Clear Channel:

I dont think Clear Channel bought Elvis.

And...welcome to DU!

[Shakespeare]

15. And a big chunk of her profit will likely go to $cientology.

Something tells me Elvis wouldn't be too happy about that.