| December 16th, 2004 11:28 PM |
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| stonedinaustralia |
Lisa Marie Presley has sold the rights to her father Elvis Presley's estate for STG52 million ($A133 million), saying it is the best way to "preserve and protect his legacy".
Under the deal Presley will keep the Graceland mansion, in Memphis, Tennessee, to which hundreds of thousands of Elvis fans make a pilgrimage every year.
But she no longer has the lucrative rights to the cash raised by the King's songs.
In 2003 alone, the Presley estate made STG23 million ($A59 million).
Presley, the ex-wife of embattled pop star Michael Jackson, sold 85 per cent of Elvis Presley Enterprises assets to businessman Robert Sillerman.
She will collect STG27 million ($A69 million) in cash and the rest will be split almost in half between preferred stock and debt repayments.
Presley - Elvis' only daughter, who inherited the estate when her father died - said: "I feel confident that Bob Sillerman and his team are the right people to do this with.
"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 with a major infusion of new investment capital to do just that."
Mr Sillerman, founder of promoter SFX Entertainment, is forming a new company, CKX Inc, to take over the business of the estate.
As well as the mansion in Memphis and its 13 acres of land, Presley will also keep most of her father's personal belongings.
She also keeps a 15 per cent stake in the company.
Graceland attracts more than 650,000 visitors a year.
Every August, thousands of fans flock to Graceland to remember the anniversary of his death there in 1977.
While Presley can keep the mansion, CKX will run the tourist business.
A statement announcing the move said the new company would own the rights to "the name, image and likeness of Elvis Presley, the operation of Graceland and the surrounding properties, as well as revenue derived from Elvis's music, films and television specials".
�AAP 2004
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| December 16th, 2004 11:37 PM |
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| corgi37 |
Wonder how much the Scientologists will take? |
| December 16th, 2004 11:53 PM |
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| Bloozehound |
quote:
stonedinaustralia wrote:
A statement announcing the move said the new company would own the rights to "the name, image and likeness of Elvis Presley, the operation of Graceland and the surrounding properties, as well as revenue derived from Elvis's music, films and television specials".
sad
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| December 17th, 2004 12:21 AM |
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| Prodigal Son |
Alright! Get ready for the exploitation of that poor dead guy Elvis and maybe we'll see some commercials with his likeness from old clips selling some bras or, distasteful as the thought is, toilets. Oh, and don't forget some careful digital manipulation of his mouth while an impersonator says "Come on America. I know you love me, even in my dead state, but I'm tellin' ya you should love the home of the whopper just as much, man. Man, you know before I entered the after-life, I used to like those flame-broiled whoppers with some hot sauce and extra hot n' spicy mustard, mmmm goood. I still do so come try the new King of Rock n' roll burgers on the menu at Burger King. Hey man, tell 'em the King of Rock sent ya, baby. Uh-huh! They leave me all shook up, mmmmmhhhm." |
| December 17th, 2004 12:22 AM |
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| sirmoonie |
I'm an Elvis fan, but not one set to go road tripping to Graceland. Luckily or unluckily, I found myself in the are about 10 years ago and decided to go on in.
Pretty lame, Milhouse.
The house with the fat couch, the half dozen or so TVs in view, and the gold records plastered all over the walls like he was some Lions Club swarthy was downright depressing. The tour did get better when I crossed the street and hit his private 707 - very interesting bit for about 15 minutes.
Place was pretty expensive as I remember, and hucking green around has never been a concern of mine. Plus, WAY too many Southerners pissing around doing jack shit as Southerners do best. Most importantly, not a drop of hootch to be found. Not a fucking drop to be found on The King's very compound. WTF?
I would not recommend unless you happened to be there. RRHOF is much better. |
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