Elvis Presley's Intellectual Property Rights Sold - NewsChannel5.com | Nashville News, Weather & Sports

Elvis Presley's Intellectual Property Rights Sold

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MEMPHIS, Tenn. (AP) - Authentic Brands Group said it has bought Elvis Presley's intellectual property from CORE Media Group and is partnering with another company to operate the Graceland tourist attraction.

Authentic Brands said Tuesday its purchase gives the company the licensing and merchandising rights to Presley's image, name and likeness, in addition to the vast collection of photos, movies, television appearances and music specials featuring the King of Rock `n' Roll.

A purchase price wasn't disclosed.

As part of the deal, National Entertainment Collectibles Association founder Joel Weinshanker acquires Graceland's operating rights. Weinshanker, Authentic Brands and the Presley family will partner in operating Graceland.

Presley's daughter, Lisa Marie Presley, says she will continue to own the Graceland home.

New York-based Authentic Brands Group manages brands including Marilyn Monroe and Muhammad Ali.

(Copyright 2013 by The Associated Press. All Rights Reserved.)

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