Elvis Presley Enterprises Inc. has been sold to New York-based Authentic Brands Group LLC for an undisclosed amount. Previously, Elvis Presley Enterprises had been majority owned by CORE Media Group since 2004 and the remaining interest owned by Elvis' daughter, Lisa Marie Presley.
Authentic Brands Group will own and manage Presley's name and likeness, video and TV segments, artwork including album covers, movie posters, and photos as well as music and major events such as Elvis Week every August.
But fans need not worry about the state of the house and property of Graceland, according to Presley's daughter. "While I will continue to own Graceland and the original artifacts, we are looking forward to working with our new partners to continue the growth and expansion we have been working toward," Lisa Marie said in a statement. "The licensing and merchandising aspect of this business is not to be confused with the fact that the property will always remain with me and my family. However, this is a great partnership for our family and Elvis fans worldwide."