Elvis Presley Enterprises Sold To Authentic Brands

Authentic Brands Group, which already manages Marilyn Monroe's brand, will acquire rights to Elvis's photos, music, movie and TV appearances. The price has not yet been disclosed.

RENEE MONTAGNE, HOST:

And our Last Word In Business is, still the King. It's been over three decades since Elvis Presley left this earthly building. But his legacy lives on, and generates about $32 million a year in revenue.

STEVE INSKEEP, HOST:

And now, Elvis Presley Enterprises has a new owner. Authentic Brands Group, which already manages Marilyn Monroe's brand, will acquire rights to Elvis' photos, music, movie and TV appearances, although the price has not yet been disclosed.

MONTAGNE: Authentic Brands will also help operate Elvis's Graceland mansion, selling memorabilia and catering to its half a million visitors a year.

INSKEEP: Keeping alive the memory of a man who was rumored to be alive and almost seems to still be with us, even though most Americans were not born when he died.

MONTAGNE: And that's the business news on MORNING EDITION, from NPR News. I'm Renee Montagne.

INSKEEP: And I'm Steve Inskeep.

(SOUNDBITE OF SONG, "MONEY HONEY")

ELVIS PRESLEY: (Singing) ...if you want to get along with me...

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