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December 17, 2004
Elvis Presley Enterprise's New Owner, Robert FX Sillerman Offers $100M: "Graceland" Daughter Lisa Marie Accepts!


Entrepreneur Robert F.X. Sillerman, the founder of the music and sports promotion agency SFX Entertainment, has offered to pay Lisa Marie Presley, Elvis Presley's only child and sole heir, $100 million for 85% of Elvis Presley Enterprises (EPE), Inc. On Thursday, December 16th, 2004, it was announced that Ms. Presley has accepted his offer and is considering taking a Board seat in Sillerman's newly formed company, CKX Inc.

Ms. Presley's father's estate, which includes Graceland, Presley's home in Memphis, will now become part of a publicly-traded company.

Current estate managers referred to the sale of EPE to CKX as a "new partnership."

SFX Entertainment, Sillerman's original company, is now part of Clear Channel Communications.

Last year, EPE, Inc. generated $45 million in revenue.

From January to September this year, Elvis' estate generated $38 million.

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ep_50th.Graceland.jpg Graceland Lit in Gold

The Deal

Sillerman will run Presley's Memphis home Graceland. However, Lisa Marie will continue to own it and its surrounding thirteen acres of land. The house is open year-round to the public.

In fact, more than 650,000 people visit Graceland each year.

Lisa Marie will also continue to own many of her father's "personal effects".

Sillerman's new enterprise, CKX Inc. will own Elvis' name and likeness, the rights to his photographs and revenue from his music publishing catalog and films.

Presley starred in 31 films. The "King of Rock 'n' Roll" sold over a billion records.

Sillerman has intentions of taking CKX public eventually, so people interested in investing a portion of Graceland will have that opportunity.

Presley's daughter said she had sought a partner for several years to help expand Elvis Presley Enterprises, Inc..

Yesterday, Lisa Marie Presley 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.

The search for the right person has been going on for years, none of us at EPE would have done this if it weren't in the best interest of my father and his legacy. No stone was left unturned in making sure that business will be run as it historically has been, with integrity, always preserving and protecting my father.

Mr. Sillerman called Presley the "most significant icon in American pop culture." He said more aggressive marketing could make him and the 15% his daughter still owns an even bigger earner.

Debts Cleared

By accepting Sillerman's offer, Lisa Marie will be absolved of $25 million in debts owed by estate. Sillerman will pay Ms. Presley $53 million in cash.

She will also receive shares in the new company expected to be worth more than $20 million.

Actress Priscilla Presley, Lisa Marie's mother and Presley's former wife, will remain executive consultant to the business.

Sillerman said he expected the sale to be completed within two months, pending standard regulatory approval.


Elvis Presley - The King of Rock 'n' Roll

The King of Rock 'n' Roll was born Elvis Aaron Presley on January 8, 1935. This year, he would have celebrated his 70th birthday.

Presley was actually born a twin. However, his twin brother, Jessie Garon, was stillborn. As a result, Elvis grew up an only child. In 1948, he and his parents moved to Memphis, Tennessee.

In 1954, he began his singing career with the legendary Sun Records. Only two years later, he was an international sensation.

Fifty years ago, Elvis Presley recorded "That's All Right Mama." This recording changed the face of music forever.

Globally, Elvis Presley Enterprises, Inc. has sold over one billion records, more than any other artist.

His American sales have earned him gold, platinum or multi-platinum awards for 149 different albums and singles, far more than any other artist.

Among his many awards and accolades were 14 GRAMMY nominations (3 wins) from the National Academy of Recording Arts & Sciences and the GRAMMY Lifetime Achievement Award, which he received at age 36.

And he was named One of the Ten Outstanding Young Men of the Nation for 1970 by the United States Jaycees.

The first of the thirty-three films he starred in was Love Me Tender which came out in 1956.

On May 1st 1967, he married Priscilla Ann Wagner after courting her for eight years. They had one child together, Lisa Marie.

Priscilla and Elvis divorced in October 1973 but remained close until his death.

On August 16th 1977, Elvis died at his Memphis home called Graceland, when his daughter was only nine years old.

"Cilla" or "Jenna Wade" as she was known on the (1983-1988) TV show Dallas has remained and will continue to remain actively involved in EPE, Inc.

For further background on Presley, read his biography at:

Elvis Presley's Only Child & Sole Heir

Lisa Marie Presley was born on February 1st, 1968 in Memphis, Tennessee.

In 2003, Lisa Marie Presley launched her own recording career. Her first CD To Whom It May Concern is a certified Gold album. Her first recorded repertoire of songs includes: S.O.B., The Road Between, Lights Out, Better Beware, Nobody Noticed It, Sinkin' In, Important, So Lovely, Indifferent, Gone, To Whom it May Concern, and Excuse Me (a hidden track).

Personally, Lisa was married to pop singer Michael Jackson from May 1994 - January 1996. Her marriage to actor Nicolas Cage lasted less than four months (August 10, 2002 - Nov 2002). However their divorce was not official until this past May.).

Lisa Marie's first husband was songwriter-musician Danny Keough with whom she had daughter, Danielle Riley Keough. Riley was born May 29, 1989. Their son Benjamin Storm was born October 21, 1992.

Today, Riley is a fifteen year-old professional model. This February, she made her modeling debut on the Dolce & Gabbana runway in Italy.

Another Kind of Presley Graceland


Three generations of Presley women alive today often grace the covers of fashion magazines.

Most recently, Priscilla, 59, Lisa Marie, 36 and Riley appeared on the August 2004 cover of Vogue. Elvis' mother, Gladys died in 1958 at the age of 42.

Today, Lisa Marie nurtures the soulful side of her existence as a Scientoligist.

About her commitment to Scientology she has said:

Were it not for Scientology, I would either be completely insane or dead by now. I am forever grateful for the technology of Scientology and to Mr. Hubbard who dedicated his life to helping man and this planet, as well as to the people who have dedicated their lives to helping others through Scientology.

Yesterday, she told Presley fans on her father's site:

The executives, my mother and myself remain very active in the operations of Graceland and its entities. What is and has been done will remain, and merging with Bob Sillerman and his team simply gives us new opportunities that we didn't have before.

Business-wise any company can always grow, what is predominately sacred and can never be touched is Graceland itself and its contents and artifacts and that is and remains mine and my family's forever.

To learn more about Lisa Marie, go to her official website at:

The New King of the King of Rock 'n' Roll's Estate

sillermans.jpgRobert F.X. Sillerman founded the radio operator SFX Broadcasting and concert promoter SFX Entertainment, the world's largest producer, promoter and presenter of live entertainment.

In 2000, he sold SFX Entertainment to Clear Channel Communications for over $4 billion.

Sillerman was one of a number of producers of the 1981 Tony award-winning Broaday musical comedy, The Producers which continues to run at the St. James Theatre in New York.

He is an avid athlete and maintains homes in Manhattan and Southampton.

His new company, CKX, intends to not only elevate the brand of Elvis in Memphis and across America. CKX will increase awareness of Elvis Presley in Europe and Japan, where Sillerman believes Preslely is "under-Elvised."

CKX also plans to underwrite the cost of developing and distributing music and video entertainment on behalf of new artists as well as other late-great talent.

The fifty-six year-old entrepreneur and his wife, Laura Baudo are strong believers in "giving back." Among the many charities and organizations they support, the Sillermans are tireless promoters of the Long Island University, Southampton College.

Giving Back

EPE, Inc. also believes in education and giving back.

In addition to Presley's music, movies and private home, Elvis Presley's memory is honored through The Elvis Presley Charitable Foundation.

Under this umbrella:

Presley Place provides homeless families rent-free housing, child day care, career and financial counseling, family management guidance and other tools to help them break the cycle of poverty and regain self-esteem and independence. This organization was created and continues to be managed by the Metropolitan Inter-faith Association (MIFA). Presley Place has a 87% success rate in breaking the cycle of homelessness;

The Elvis Presley Endowed Scholarship Fund at the University of Memphis;

Little Kids Rock, an organization which supports music education by bringing free instruments and lessons to kids in public schools.

Congratulations to the Sillermans, the Presleys and all those interested in owning a part of Elvis' house.

Inspire & Be Inspired (R).

Here's to healthy, adventuresome, soulful, "Keeping The Memphis King Rockin'" living!

~ Jennifer Carolyn King

Posted by jck at December 17, 2004 11:00 AM

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