Elvis Presley’s intellectual property rights sold

This rare poster promoting Elvis Presley's 'It Happened at the World's Fair' (MGM, 1963), 40

This rare poster promoting Elvis Presley's 'It Happened at the World's Fair' (MGM, 1963), 40
This rare poster promoting Elvis Presley’s ‘It Happened at the World’s Fair’ (MGM, 1963), 40
MEMPHIS, Tenn. (AP) – The money-making enterprise called Elvis Presley has been sold.

Authentic Brands Group said Tuesday it has bought Elvis Presley’s intellectual property from CORE Media Group and is partnering with the founder of another company to operate the Graceland tourist attraction.

The purchase gives Authentic Brands control of Elvis Presley Enterprises, which manages the licensing and merchandising rights to Presley’s image, name and likeness, in addition to a massive collection of music, photos, movies, television appearances and performance specials featuring the King of Rock ’n’ Roll.

As part of the deal, National Entertainment Collectibles Association founder Joel Weinshanker acquires Graceland’s operating rights, according to a statement announcing the sale. Weinshanker, Authentic Brands and the Presley family will partner in operating Graceland, it added.

A purchase price wasn’t disclosed. Also known as ABG, Authentic Brands Group is a New York-based intellectual property corporation that manages brands including Marilyn Monroe and Muhammad Ali.

“This is an exciting day for Elvis and his fans,” Priscilla Presley, the singer’s former wife, said in a statement. “We look forward to working with the ABG team to further promote the legacy of Elvis. This is the opportunity the family has been envisioning to expand the Graceland experience and enhance Elvis’ image all over the world.”

Presley’s daughter, Lisa Marie Presley, says she will continue to own the Graceland home and the original items inside it.

“The licensing and merchandising aspect of this business is not to be confused with the fact that the property will always remain with me and my family,” Lisa Marie Presley said.

Elvis Presley died at age 42 in Memphis on Aug. 16, 1977.

The Graceland home opened for tours on June 7, 1982. Presley-related exhibits, restaurants and gift shops selling clothing and memorabilia are located across the street from the home. More than 500,000 people visit Graceland each year, bringing in millions in tourist revenue for its owner and the city.

Elvis Presley Enterprises runs a worldwide merchandising and licensing business that keeps Elvis’ legend strong. In 2012, Elvis Presley Enterprises CEO Jack Soden said the licensing business generated about $32 million a year in revenue.

Plans to refurbish and modernize the tourist attraction had been put on hold, but they could be renewed now that the sale is complete. Priscilla and Lisa Marie Presley both mentioned a possible expansion of Graceland in their statements Tuesday.

CORE Media Group was bought by private equity firm Apollo Global Management in 2011 for $511 million. Formerly known as CKx Inc., CORE Media owns rights to American Idol and So You Think You Can Dance.

National Entertainment Collectibles Association is a media and entertainment distribution company operating in the United States and internationally.

Copyright 2013 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.

AP-WF-11-19-13 2314GMT

ADDITIONAL IMAGE OF NOTE

This rare poster promoting Elvis Presley's 'It Happened at the World's Fair' (MGM, 1963), 40
This rare poster promoting Elvis Presley’s ‘It Happened at the World’s Fair’ (MGM, 1963), 40

Stanley Gibbons Group acquires Noble Investments

LONDON – British rare stamp and collectibles merchant, The Stanley Gibbons Group plc, has successfully completed its acquisition of Noble Investments (UK) PLC today; putting it in the top 100 of London’s AIM listed companies with a market value in excess of £130 million ($209.6 million).

The acquisition brings together four heritage brands which, when combined, sees the group become a leading global collectibles auction brand, dwarfed only by Sotheby’s and Christie’s.

Noble Investments comprises: Baldwin’s, the globally respected brand in coins, established in 1872; Dreweatts, an auctioneer of antiques and collectibles such as watches, fine wine and jewelry, established in 1759; and Bloomsbury, a leading UK auctioneer of books, manuscripts and art; together with the Stanley Gibbons Group plc, founded in 1856 and holders of the Royal Warrant as philatelists since 1914.

With more than 250 staff and offices in the UK, Hong Kong, Singapore, US and the Channel Islands, the company aims to deliver a truly global service by bringing the world’s collecting community into one place.

“Our online development plans to create a global online hub for buying and selling collectibles will be enhanced by the wider range in which we now have authority and expertise.” said Mike Hall, CEO of the Stanley Gibbons Group.

“This acquisition means that sellers can expect to achieve the best realisation possible by virtue of our international reach, the size of our combined databases and superior specialist expertise; whilst buyers can be assured by the Stanley Gibbons guarantee of authenticity and standards of service.”

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