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Brands & Merch Business News
Authentic acquires Elvis Presley brand rights
By Chris Cooke | Published on Wednesday 20 November 2013
The Authentic Brands Group has acquired the various Elvis-related IP rights which have been controlled since 2005 by the CORE Media Group, or what was CKX, another entertainment company created by Robert Sillerman.
Authentic has done two deals with CORE, which also owns the Idol brand among other media concerns, taking over the firm’s interests in both Muhammed Ali’s image rights and Presley’s image, name and likeness, plus an archive of photos and movie footage of the late singer.
The deal also includes management of the Graceland site, Presley’s former home which is now a tourist attraction of course. A third party is involved in that part of the arrangement, with National Entertainment Collectibles Association founder Joel Weinshanker acquiring operating rights for the property.
No price has been officially attached to the deal, though a New York Post report last month said that Authentic was leading the bidding for CORE’s Presley assets at about $125 million.
Confirming the acquisition, Authentic Brands Group boss Jamie Salter told CMU: “We are honoured 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’s popularity and fan base worldwide”.
Presley’s widow and daughter retain some interests in the Elvis Presley business, with the latter, Lisa-Marie, actually owning the Graceland site.
On the new deal Priscilla Presley told reporters: “This is an exciting day for Elvis and his fans. We look forward to working with the ABG team to further promote the legacy of Elvis. This is the opportunity the family has been envisioning to expand the Graceland experience and enhance Elvis’s image all over the world”.
