The Elvis estate, along with rights to his the rock legend’s name and image, has been sold for $100 million to SFX Entertainment. Lisa Marie Presley agreed last Thursday to sell 85 percent of the estate’s assets.
Presley will receive $53 million cash, be absolved of $20 million indebt and get shares in the new company expected to be worth $25 million. Presly, the King’s only daughter will retain ownership of Graceland preventing a riot among members of the Elvis religion.
Silverman believes he can increase the revenue of the estate with increased capital and marketing.
