Join The Discussion

 

Great Woman of Texas; Stacie McDavid

“I’ve always been a maverick in a number of ways,” says businesswoman and philanthropist Stacie McDavid.

read more >

Thousands rally across US after Ferguson decision

Thousands of people rallied late Monday in U.S. cities including Los Angeles and New York to passionately but peacefully protest a grand jury's decision not to indict a white police officer who killed a black 18-year-old in Ferguson, Mo.

read more >

Fort Worth Thanksgiving schedule announced

Thanksgiving closures have been announced, with most Fort Worth city offices – including City Hall – set to close Thursday Nov.27 and Friday Nov. 28 for the holiday, according to a city news release.

read more >

Hope Lancarte of Joe T. Garcia's dies

Hope Lancarte, who ran her father's restaurant, Joe T. Garcia’s, for decades, died Thursday morning.. She was 86.

read more >

Earthquake hits on Saturday near Irving

A 3.3 magnitude earthquake shook the Dallas-Fort Worth area around 9:15 p.m. Saturday night, according to the United State Geological survey.

read more >

A hunka-hunka burning cash: Elvis' properties sold

Graceland, Elvis's former home in Memphis, Tennessee, is now a major tourist attraction, drawing more than 600,000 fans each year. Visitors to the house can eat Elvis's favorite dishes, purchase King memorabilia or stay at the Heartbreak Hotel.

Credit: WREG
 

Sophia Yan


HONG KONG (CNNMoney) -- Elvis Presley may have left the building 36 years ago, but the King of Rock and Roll is still a very hot property.

Authentic Brands Group announced Tuesday that it has purchased the intellectual property associated with the rock-and-roll icon from Core Media Group.

Authentic Brands, which already controls the Marilyn Monroe and Juicy Couture brands, will own and manage global rights to a vast library of thousands of Elvis photos, album covers, movie posters, archive video footage and events like "Elvis Week."

"We are honored to welcome Elvis into the ABG brand portfolio and look forward to working alongside the Presley family and the team at Elvis Presley Enterprises to increase Elvis' popularity and fan base worldwide," said Authentic Brands CEO Jamie Salter.

A purchase price was not disclosed, and Authentic Brands did not immediately respond to a request for comment.

As part of the deal, Authentic Brands will operate Graceland in partnership with Joel Weinshanker, the chairman of National Entertainment Collectibles Association.

Graceland, Elvis's former home in Memphis, Tennessee, is now a major tourist attraction, drawing more than 600,000 fans each year. Visitors to the house can eat Elvis's favorite dishes, purchase King memorabilia or stay at the Heartbreak Hotel.

"We are looking forward to working with our new partners to continue the growth and expansion we have been working towards," said Lisa Marie Presley, the late singer's daughter. The Presley family retains ownership of Graceland and its original items.

In 2005, an 85% stake in Elvis Presley Enterprises was sold to media company CKX for $114 million. Private equity firm Apollo Global Management later purchased CKX and changed the firm's name to Core Media.

Elvis, a major American icon, won the Grammy Lifetime Achievement Award at 36, and has sold over one billion records. His death at age 42 in 1977 prompted numerous conspiracy theories, and some diehard fans continue to insist the star is alive.

 

< back

Email   email
hide
Midterms
What was the message of the midterm elections?