ELVIS PRESLEY ENTERPRISES…WHO OWNS IT?
by eddie on Aug.05, 2009, under E
Ever since the sale of Elvis Presley Enterprises to media mogul Robert Sillerman in 2005, there have been conflicting stories about who owns what at EPE!
As a result of the sale, Elvis’ only child and sole heir to the King’s estate received a whopping $53 million in cash, $25 million in debt assumption and $22 million in preferred stock of Sillerman’s new company CKX. She still owns 15% of Elvis Presley Enterprises. Basically, Graceland mansion, and the 13 plus acres it sits on and all of Elvis’ personal belongings. CKX has the rights to promote the name and image worldwide. The sale has not changed the scene in Memphis….It’s business as usual and all the folks employed by Graceland mansion still have their jobs. What has changed is the use of the Elvis name and image abroad. Elvis Presley has become an international marketing tool! At the time of the sale Elvis Presley Enterprises was bringing in some $12 million a year in pure profit. Amazing, when you consider the fact that very little music rights for most of Elvis’ biggest hits add to that figure. Col. Parker sold those royalty rights to RCA many years ago!
To sum things up; Lisa Marie pocketed $50 million, got rid of her debts, kept the mansion and property and is a large share holder with a company promoting the world’s #1 entertainment image!