Lisa Marie is Selling Out.
 

By WOODY BAIRD, Associated Press Writer

MEMPHIS, Tenn. - Lisa Marie Presley is keeping Graceland but selling the bulk of the Elvis estate, including rights to her father's name and image, in a deal worth approximately $100 million.

Elvis Presley Enterprises Inc. announced an agreement Thursday to sell 85 percent of its assets to businessman Robert F.X. Sillerman, founder of music and sports promoter SFX Entertainment.


The Presley estate brought in almost $45 million last year. Sillerman said more aggressive marketing, supported by capital raised through a new publicly traded company, can make Elvis an even bigger earner.


Presley occupies a unique place in American pop culture, and "I don't think there's much likelihood his influence is going to wane anytime in my lifetime," Sillerman said by telephone from New York, where he runs the Sillerman Companies.


As Presley's only child, Lisa Marie is the sole heir to the estate, most of which is now to become part of a publicly traded company that will be called CKX Inc.


The agreement will pay her $53 million in cash and absolve her of $25 million in debts owed by the estate. She also is to get shares in the new company expected to be worth more than $20 million.


Lisa Marie will retain possession of her father's home, its more than 13 acres of land and many of her father's "personal effects," an announcement on the agreement said.


"For the past few years, I've 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," Ms. Presley, also a singer, said in a statement.


Tours of Graceland, which gets 650,000 visitors a year, will continue unchanged. The throngs of fans drawn to Memphis each August on the anniversary of Presley's 1977 death will notice little different, Sillerman said.


Although Elvis already ranks No. 1 on the Forbes magazine list of top-earning dead celebrities, Sillerman said new markets and business opportunities may be available, including abroad.


"Does it make sense to invest in Elvis Presley enterprises in Japan? Does it make sense in Germany? Are there things that can be done in other jurisdictions in the United States?" he said. "The answer to some of the questions is obviously yes, we just don't know which ones."


Sillerman said the staff at Graceland will remain in place.


Elvis Presley Enterprises was created in 1980 by Priscilla Presley, the singer's ex-wife and mother of Lisa Marie, who was still a child then. She is to remain as a consultant to the new owners.


Sillerman founded SFX Entertainment in 1977 and ran the company until it was bought by Clear Channel Communications in 2000. He said he expected the sale to wrap up within two months, pending standard regulatory approval.

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She's keeping Graceland, but selling her father's name? HARSH and uncalled for! :shrug:

this is awful!!!~ OT: my ma wanted 2 name me after her, but my dad was like no freakin' way!!! :distress: ~ LOL

Great. All the world needs is more crappy Elvis memorabilia, or Elvis popping up all over stupid commercials, like they did to poor Frank Sinatra this year.

I hope she uses the money she's making to finally restore Graceland. My family stopped in Memphis to see it one year on our way to visit family in east Tennessee. That place is a dump! (And it smells...) :nod:

Businesswise, she's a dolt. I simply can't believe she'd be stupid enough to sell the rights to her father's name and image. The money she'll lose in the future is astronomical.

Just businesswise? She married Michael Jackson, so I say she's a dolt ... period. And I didn't like her album, either. And in additon to the name & image rights, I also read in another story that she sold the music rights. Is she unaware how successful the last 2 Elvis "#1s" collections were? Dolt! Dolt! Dolt!

By the way, I'm gonna laugh when MJ buys all this from the dude she sold it to. So, he'll end up with everything he wanted in the beginning (assuming he's not in jail, of course...).

Wow! It's amazing how little i care! Also, she's getting a hefty chunk o change, and she will own stock in the company, so i'm sure she had accountants, analysts, whoever, check out the deal and it probably is a good deal. :shrug:

She probably just doesn't want to be bothered. And I assume the deal is offering her some unreal tax advantages. I don't know if she is a crappy business person or not. It looks strange to sell a company for less than it's gross annual revenue, though. For the record, I like LMP. And I liked her record. She's a tough broad. Taste for crap in men, but she is scrappy, and I like that.

I know. Does she need the cash for Scientology?

So, is that really a bad deal? with the stock and everything? :confused:

Ah yes, sweet sweet irony ;) what a loser she is. :rolleyes:

I was shocked when I heard this, she's always been all about keeping the family legacy within the family - or so she said. Whatever. So when will the first Elvis Nike ad come out?

Yes....Yes it is a bad deal. She is beyond Dolt. She has gone all the way to end of the alphebet to ZOLT.

Why? She's getting hella cash, debt removal, and she has stock options. And now she doesn't have to deal with it. Actually, why is the estate more than 25 million in debt, is what i really want to know.

I'm just offended cuz it's her FATHER, for God's sake. I mean, she's acting like this guy's a "partner", but it just doesn't seem like that to me. Will this guy be able to sell anything with Elvis on it without her or Cilla's approval? If yes, that sucks & she should be ashamed, IMO.

OMG, I sound like my mom... :o

Anyway, I'd love to know where the debt came from too. I was under the impression that Elvis Presley Enterprises brought in billions every year :shrug:

well, if it made 45 million run poorly, then if she hired someone at 1 million to run it right, she would make even more. Now, back to my piggy bank to save up for a private concert with Stevie. (See really old post to get this bad joke) $12.94........$12.95.......Ohhh a Dime! 13.05...... 13.06....

Weren't they divorced when he died? That's why Lisa Marie got basically everything. I don't think Priscilla could technically do more than try to 'advise' Lisa Marie....

-Lis

priscilla & elvis were divorced when he died & he left everything 2 lisa, but her being a child priscilla ran it & made it what it is 2day, a huge money maker, w/out selling out 2 much w/ his likeness & not letting people use his likeness in crappy stuff~ she brought in the ideas 2 make all the money & i think it was turned over 2 lisa when she was either 21 or 25, can't remember the age~ i am sure priscilla is appalled seeing she turned around & made her daughter millions & millions by the things she has done w/ the estate, such as the car museum & other things on or near the property~ tho lisa & her mother have been @ odds quite a bit over the years~the make-up & then hate ea other again~ but 100 million~ c'mon we r talking elvis here, whether "we" r fans or not, he is huge 2 some people, the estate pulled in 45 million last year, what was she thinking?!?!?!?~ sounds like a horrible deal 2 me~ geez it is your father & it's not everyday that little girls look up 2 their daddy's & daddy is elvis~ i would think his legacy alone would make her want 2 keep everything, i know i would~ even if she doesn't want 2 b bothered w/ all the hassle u could pay people 2 run it 4 u~ i just don't see her reasoning in this, but ah Yes as another poster said, hell, she married michael jackson, which the thought of their mtv kiss makes me wanna PUKE :eek: !!!~ :shrug: i for 1 think she is being dumb as a rock on this :shrug: !!!~

Yup. Elivs' state wasn't worth much when he died, but Priscilla built it up and is responsible for its great success.


I have always adored Elvis, so I've tried very hard to like Lisa Marie. She has always seemed so hardened (and I guess who could blame her), but I always thought she softened when she talked about her dad. Monetarily and personally, I think this was a bad move on her part.

I feel bad for Lisa Marie. Just the fact that this icon was her father maybe makes some of us expect her to act/feel a certain way towards him and his memory-- but IMO she probably mainly 'knows' her dad through his 'image'. She was very young when he died, so her 'real life' memories of him as a person involved in her life must be somewhat lacking.

I wonder what Priscilla really thinks about LM's decision....

-Lis

My quesiton is why is there so much debt when the estate took in $45 mil last year?
She was still pretty young when she took over the estate. Maybe she didn't run it the way she could/should?
Her mother did a far better job, IMO. Maybe whoever said she doesn't want the responsibility is right. It's really sad.
That said, I like Lisa. I liked her record. I can kind of relate to her because both of our fathers died when we were the same age.

Agreed. :woohoo:

Though I did think her vocals sounded a little too produced on her album.

:laugh: :laugh: :laugh:

I wouldn't be surprised. I'd LOOOOOOOOOVE to hear what kind of dirt the clams have on her.

Think of it in the long run, Amber, and it's a ridiculous business move. It's as if she's getting rid of everyhting now to make a few bucks and remove debts, when in all actuality, she'd benefit tenfold more in the years to come. She's a f*cking idiot. She doesn't have to deal with it, and because of that, she'll lose hundreds of millions.

it just doesn't make sense that she would do it then, unless there's something we don't know about the deal. Or unless she really really doesn't want to deal with the whole thing. Maybe for her the combination of STOCK OPTIONS FOR THE REST OF HER LIFE, and cash, and not dealing with it, is a great deal :shrug:

Well, the vocals were pretty buried in the mix, and she verges on tone-deaf. That explains THAT. Nonetheless there is something sassy about her that really turns my crank.
:lol:

LMP actually left the spaceship people. It's her MOM that is still with them. LMP is one of the few celebrities to ever leave them. BTW, I had lunch at the Celebrity Centre restaurant at the Church the other day. It was like lunch with the Pod People. Creeepasaurus. We went into the bookstore, and the attendant came slithering out from behind the encounter, flashing this big sharp toothed grin. I swear, I damned near backed into the corner and screamed like a little girl. I beat it outta that bookstore like I was in Roadrunner cartoon. There may have been a little puff of smoke left hanging in the air from my mad dash for the door.
:nod:

:laugh: :lol: :laugh:
my fave? "the attendant came slithering out from behind the counter.." :laugh:
Why'd ya have lunch there? i assume you had to, from the way you describe it. Unless you were in one of those "how can i make my lunch like a horror movie?" moods... :shrug:

Good for her if she really left them. I was worried for homegirl after she and Juliette Lewis (who, however misguided she may be, I absolutely adore) held that demonstration against psychology and ritalin. Talk about freaky ****. :cool: The clams must have had mass orgasms the day they did that whopper. Mimi Rogers and Sonny Bono are a couple others who left, thankfully.

And you really ATE with the clams?!! The freakiest bunch of people in the world. I hope they didn't know you're queer, or else they'd try to work their magic on you. Did you find yourself blessed by a visit from Xenu? You should have asked to be hooked up to an E-Meter. :laugh:

On another note, I was in Virgin this afternoon and they had a two-disc limited edition copy of Franz Ferdinand. Why did you not tell me about this new version sooner?! :p The second disc has an awesome new version of This Fire and four other *fantastic* songs.

Congratulations! :) :woohoo:

Going there is a new tradition among this group I am working with. Purely for comic creepiness. And my boss turned in the receipt.

:lol: :laugh: :lol:

You've been on a roll lately, Amber.

Sonny ? Say it isn't so !

It is a grandiose and hellishly overdecorated place. That part was really compelling. The photo shrines to L. Ron were the weirdest. What an alarmingly unattractive little toad of a man he was. Smart though, evidently. Our waiter could have been Xenu. I would have preferred XenA. Actually, the place had me a craving a XANAX.

I didn't know. And furthermore, I never knew that you had converted into a Franzie. They are spectacular. I LOVE them. Thanks for the tip. Gotta get that one !

Yup. He took classes and got up to level two, but bolted soon after. Mimi Rogers intorduced Tom Cruise, but she bolted just as quickly. I suspect that she still writes them monthly checks, though, because they must have some BIG dirt on her and Tommy.

Oy, the shrines are freaky. The Church in Boston has one right when you walk in through the front door and it just smacks you over the head. They have recreations of his office and his writing desk, it's truly sick. L. Ron created Scientology for the sole purpose of not paying taxes and making money. He even admitted as much. If you ever want to howl with laughter, pick up Dianetics. Jesus H. Christ.

You're the one who turned me onto them, ****tard. :p I have had Dark of the Matinee in my head for the past two months. Those bastards write some ridiculously catchy and hook-laden songs, it should be a crime to be so good. The lead singer has one amazingly sexy voice, too. I can't help but think of them as a hybrid of early Bowie and Blondie. I can picture Debbie singing 40 Ft. every time I hear it and Jacqueline sounds like it could have been on Ziggy Stardust.

The bonus disc has five songs, I think two of them are demos, but they sound like fully produced songs. The first song is a remix of This Fire that blows the album version out of the water. :nod:

Of course they do, as I think Miss Mimi is a more than casual friend of Dorothy herself.



That, and the fact that he always wanted to be famous.



I realize that, but you never told me you actually got the friggin record !
I figured you hadn't liked it. It is a great relief to me that you are so into it.
A friend of mine heard "Michael" and still can't get over it. It tends to rile me up as well. In a big bad way.
:shocked:

Bowie is a big fan, and I think they need to record a song with Deb.

Now Now LADIES - let's not have a cat fight :cool: :laugh: :wavey: :p

Dude, I am so not a lady. But if I were, I might have to plant my spike heel
right up your kiester. :wavey:

Well, there's no need to get sexual :eek: :laugh:

Really? She seems a bit masculine, but I always took her for a straight chick. Saw her in some ridiculous flick called "Full Body Massage" and thought she was hot as hell.

He certainly achieved that, unfortunately. He was f*cking crazy. Do they have a Narconon facility over there? Those are hysterical.

:lol: :laugh:

It took me forever to finally get it because Amazon f*cked up and sent me some Spanish CD by some dude named Ferdinand instead. :laugh: It's one of my favorite albums now. :nod: The only song I can't get into much is Tell Her Tonight. I don't scramble to skip it, but it just doesn't do much for me.

I'd have a hallucinatory orgasm of epic proportions if they recorded a song with either Bowie or Debbie. He sounds like Bowie on many songs, especially on This Fire, and a lot of the songs just scream Debbie. I tried to get my friend Jamie to listen to the album and she hated it, said it was too retro and not in a good way. I think she has **** for taste.