The intellectual property of Elvis Presley has been sold from its previous owner, Core Media Group, to Authentic Brands Group, according to CNN. Authentic Brands Group, which also controls the Marilyn Monroe brand, among others, "will own and manage global rights to a vast library of thousands of Elvis photos, album covers, movie posters, archive video footage and events like Elvis Week."
A purchase price was not announced, and although the new owner will run the multi-million dollar operations of "The King's" Graceland mansion in Memphis, the ownership of the property and its contents remains with the Presley Estate. 36 years after Elvis's death in 1977, Graceland remains a major tourist yearlong attraction year-long, with over 600,000 visitors each year.
Lisa Marie Presley, Elvis' only child and sole heir said in a statement: "We are looking forward to working with our new partners to continue the growth and expansion we have been working towards."
Authentic Brands CEO Jamie Salter added: "We are honored 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' popularity and fan base worldwide."
During a rare press conference in Houston on February 25th, 1970, Elvis spoke about his deepest musical influences: "I like all different types of music when I was a child. Of course, the Grand Ole Opry was the first thing I ever heard, probably. But, I like the blues and I liked the gospel music. Gospel quartets and all that."
Photo Courtesy of PRPhotos.com