.

Lisa Marie Sells Presley

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

December 17, 2004 12:00 AM ET
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.

To read the new issue of Rolling Stone online, plus the entire RS archive: Click Here

prev
Music Main Next
Around the Web
Powered By ZergNet
Daily Newsletter

Get the latest RS news in your inbox.

Sign up to receive the Rolling Stone newsletter and special offers from RS and its
marketing partners.

X

We may use your e-mail address to send you the newsletter and offers that may interest you, on behalf of Rolling Stone and its partners. For more information please read our Privacy Policy.

Song Stories

“Vans”

The Pack | 2006

Berkeley, California rappers the Pack made their footwear choice clear in 2006 with the song "Vans." The track caught the attention of Too $hort, who signed them to his imprint. MTV refused to play the video for the song, though, claiming it was essentially a commercial for the product. Rapper Lil' B disagreed. "I didn’t know nobody [at] Vans," he said. "I was just a rapper who wore Vans." Even without MTV's support, Lil' B recognized the impact of the track. "God blessed me with such a revolutionary song… People around my age know who really started a lot of the dressing people are into now."

More Song Stories entries »
 
www.expandtheroom.com