Authentic Brands Group Buys Elvis Presley (Well, his IP rights anyway)

As reported earlier today by Adrian Sainz of the Associated Press, "The money-making enterprise called Elvis Presley has been sold."

No purchase price was disclosed, but Authentic Brands Group ("ABG") announced it has bought all of Elvis Presley's intellectual property from CORE Media Group.  It also announced that it is partnering to operate the Graceland tourist attraction.  This gives ABG control of Elvis Presley Enterprises, which manages the licensing and merchandising rights to Presley's image, name and likeness, as well as all of the King's "massive collection of music, photos, movies, television appearances and performance specials." 

As countless dead celebrities like Marilyn Monroe, Albert Einstein, and Michael Jackson would tell you (if they could speak to you from beyond the grave), it pays to be dead (if you're famous).

For the rest of Sainz' story, see http://www.komonews.com/news/entertainment/Elvis-Presleys-intellectual-property-rights-sold-232587551.html.