Frequently Asked Questions

FAQs about the partership of Elvis Presley Enterprises, Inc. and Robert F.X. Sillerman.

This FAQ page was added January 11, 2005. Last updated February 28, 2005.

On this page we respond to many of the questions/comments we have received about the December 16, 2004 announcement of EPE’s new partnership with Robert F.X. Sillerman. At the bottom of this page are links to press releases about the partnership.

What was sold? Did Lisa Marie Presley sell Graceland?

Lisa Marie Presley did not sell Graceland Mansion and its original grounds, or her father's personal effects - meaning costumes, wardrobe, awards, furniture, cars, etc. She maintains 100% permanent, sole ownership of all of this. The sale was an 85% share of the company Elvis Presley Enterprises, Inc., including its physical and intellectual properties. The new partnership is about growing the company and fueling the global Elvis phenomenon. (The intellectual properties include EPE-owned trademarks, music publishing interests, photography, archival documents, Elvis’s three TV specials and other footage, etc.)

Does the new partnership affect ownership of Elvis’s recordings, his theatrical films and his TV guest appearances?

No. Neither Elvis nor EPE ever had ownership in Elvis’s recordings or his theatrical films, and thus these properties are not part of the partnership deal between Mr. Sillerman and EPE. Please see the “Who owns Elvis Presley’s music?” item in our FAQ section here on Elvis.com. Also see the complete FAQ menu page for information on various footage-related topics.

What is the payment to Lisa Marie Presley in the deal? In exchange for an 85% share in EPE, Lisa Marie Presley’s personal compensation is approximately $100 million, consisting of approximately $53 million in cash, approximately $22 million in Preferred Stock of the new parent company, 500,000 shares of common stock in the new parent company and the assumption or extinguishment of approximately $25 million of outstanding indebtedness. (The debt is partly EPE’s operating debt, typical of a business its size, and much of the debt is in mortgages for real estate purchases EPE has made over the years.)

Will EPE’s management change?

All of the EPE management and staff will remain in place and we're all very excited about the new opportunities the new partnership brings. The recent news is sudden to you, but finding the right partner and making all this happen is something our management team and Lisa together have, for several years, quietly worked toward making happen. Everything about it is good. There is nothing to worry about, but everything to look forward to.

How will operations at Graceland change?

All operations at EPE are business as usual, including our nonstop efforts to get better and better at what we're doing. The main difference for fans will be that, as the company and the global reach of all things Elvis grow, EPE will be able to do more and more for the fans and for new audiences and for the Elvis phenomenon overall. The new partnership means our dreams for the future have gotten bigger and that projects already on our dream list can happen faster. As always, as new projects are confirmed and can be announced, we'll share the details of each of them, project by project, as each comes along.

Is EPE’s close relationship with the Elvis fans and fan clubs changing? How does the new partnership affect the fans? Will the style of EPE’s management change?

There are no new sweeping changes in our policies or in our philosophical or historical commitments. EPE's commitment to, and communication with, the Elvis fans and fan clubs will go on as always, including our constant effort to make that relationship stronger and better.

Will EPE’s company name change? Will stock be available?

The identity of Elvis Presley Enterprises, Inc. is not changing. We will continue to be EPE, only now our company will be a subsidiary of a new, publicly traded company called CKX. Lisa Presley will be a 15% owner in EPE and a significant stockholder in CKX. Information about a public offering of CKX stock was posted on February 28, 2005, the day before stock began trading on March 1, 2005. Click here to go to the press release in News on Elvis.com.

Will the anticipated growth of EPE include reopening the Elvis Presley’s Memphis restaurant on Beale Street?

No. Please see the EPM restaurant FAQ item posted shortly after the restaurant closed in 2003. All that information still applies.

PRESS RELEASE LINKS:

These are the initial press relases, now found in News Archive here on Elvis.com:

Press Release from EPE, 12/16/04

Personal Message to the Fans from Lisa Marie Presley, 12/16/04.

Press Release #1 from Robert F.X. Sillerman, 12/16/04.

Press Release #2 from Robert F.X. Sillerman, 12/16/04.

Press Release announcing closing of the partersip deal, 2/9/05.

Press Release announcing CKX stock offering, 2/28/05.

If you check the current News on our site from time to time and/or sign up for our free e-newsletters service, you easily can keep up with what's going on at Graceland and with Elvis Presley Enterprises, Inc.

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