The estates of Elvis Presley and Muhammad Ali, owned by Core Media, were up for a second round of auction bidding which ended Wednesday (Aug. 14), according to the New York Post. Assets of the estate include a half interest in Elvis’ music publishing catalog, which has an annual net publishing revenue of $6 million. According to reports, real estate assets Graceland and Heartbreak Hotel are also included in the Presley estate. Presley’s daughter Lisa Marie commented via Twitter, stating that, “Graceland and all of its artifacts are all mine and always will B [sic].”
Sony Corp. and the G2 Investment Group are reportedly working on a joint bid for the assets. Sony Music Entertainment currently controls the Presley master recording catalog; a purchase of the estate would eliminate artist royalty payments from Sony to the estate.
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About the AuthorJessica Nicholson is a staff writer with MusicRow Enterprises. Her previous music journalism experience includes work with Country Weekly magazine, TasteofCountry.com and Contemporary Christian Music (CCM) magazine. She holds a BBA degree in Music Business and Marketing from Belmont University. She welcomes your feedback at email@example.com.
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