Presley’s Intellectual Property Sold

A New-York based brand-licensing company has purchased the rights to Elvis Presley’s intellectual property, plus operations of Graceland.

Authentic Brands now controls Presley’s name and image, photos, movies and music specials.

Core Media previously held the rights. Under the terms of the deal, the National Entertainment Collectibles Association will manage Graceland in Memphis, Tenn.

“We will usher in a new era of an enhanced Graceland experience, run for the fans, by a fan,” Joel Weinshanker, CEO of the association, told the New York Post.

Plans are reportedly in the works to expand the site.

Presley’s daughter, Lisa Marie, will continue to own Graceland and the original artifacts. The purchase price was not disclosed. Authentic Brands also secured Muhammed Ali’s assets from Core Media as part of the deal, the Post said.