Late Elvis Presley may appear 'live on stage'
Elvis Presley's Graceland mansion along with his music and rights to his image are up for sale in a 130 million-pound deal, which could see The King appear live on stage more than 35 years after he died
American owner Core Media Group is offering a package that includes royalty rights to 24 of the star’s films and numerous TV appearances, a newspaper reported.
The package also includes Muhammad Ali Enterprises, which controls all rights to the 71-year-old boxing legend’s archives and memorabilia.
Los Angeles-based media analyst Mike Raia told the publication that this could be one of the sweetest deals for a prospective buyer in the history of entertainment and sports acquisitions.
Raia said that Elvis is still worth as much as 40million pounds a year in revenue, mainly through the 550,000-plus tourists, who visit Graceland annually.
Raia said that the opportunities for a serious buyer could be enormous, as there are already detailed plans for an Elvis-themed hotel near Graceland.
“Other future revenue sources include a tribute stage show in an Asian casino hub such as Macau and a massive expansion of Elvis-themed digital and social media projects,” the media analyst said.
Jack Soden, chief executive of Elvis Enterprises, which was bought by Core from the Presley family for about 66million dollars in 2004, believes that the virtual technology could even lead to Presley going on tour again, at least in the shape of his digital image.
This could probably mean fans can once again watch a young and lean Presle “perform” around the world.
Members of the Presley family, led by his daughter Lisa Marie, 45, will retain their 15 per cent shareholding as a condition of the sale, irrespective of the buyer.
Presley’s Enterprises includes copyrights and royalties for 1,150 songs, his films as well 110,000 pieces of memorabilia including costumes and cars.
The Graceland estate in Memphis, Tennessee was bought by Presley for his parents for around 66,000 pounds in 1957.
He died there 20 years later aged 42.