Lisa Marie On Estate Sale

Here is part of an interview Lisa Marie did with Rolling Stone magazine on the Estate Sale. Lisa Marie Presley says she didn’t “go nuts”. Doing the best thing When Elvis Presley's daughter Lisa Marie sold eighty-five percent of the multi-million Elvis Presley Estates last month to Robert F.X. Sillerman, the billionaire investor announced his intention to "take risks on bigger opportunities" with the King's name and image. Speaking exclusively with Rolling Stone, Presley confesses that the decision to sell was not easy, and expresses confidence in the direction in which Sillerman will take the Elvis brand. "It's not like I just went nuts and sold it," says Lisa Marie, who in reality spent years searching for the right buyer. "I don't know if people have this misconception that we're going to build a giant casino on the lawn of Graceland, or that Elvis condoms are going to be mass-distributed throughout the world, but that's not going to happen." Sillerman, who will manage the estate through his company CFX, declined to offer specific marketing plans, but he says people shouldn't expect Elvis to start appearing in TV commercials, or that the market will be flooded with T-shirts and mini-Graceland models. "Less is more," he says. "I think overexposure diminishes the value of Elvis." He does, however, see big money in Elvis' future -- he may invest in projects such as Elvis-themed entertainment in Las Vegas or in Japan and Europe, where the King's allure is huge. More than half of the 10 million-plus sales of the 2002 release 30 #1 Hits came from outside America. Lisa Marie retains fifteen percent of the estate, as well as the deed to Graceland and all of Elvis' personal belongings. She also has veto power over any unorthodox new venture. "He cannot do anything that hasn't been historically done," Presley says of Sillerman. "That's the thing we still wanted control of, and that was a big part of our process: 'Is this person going to do something crazy that we have no control over"' No stone was left unturned in making sure that that wasn't the case. That's why it took a long time to find the right person." Sillerman bought the bulk of the estate for cash, stocks and debt forgiveness totaling $100 million, including fifty percent of Elvis' publishing rights (the singer sold the majority of his master rights back to RCA in 1973). The mogul -- who sold his massive concert-promotion business, SFX Entertainment, to radio conglomerate Clear Channel in 2001 for more than $4 billion -- plans to form partnerships with a variety of artists through CFX. Elvis, who would have turned seventy on January 8th, has topped Forbes' list of top dead-celebrity incomes for the past four years; in 2003 the King made a profit of $12 million on nearly $45 million in revenues, mostly generated from merchandising and Graceland tourism. In December, a fan in North Carolina used eBay to sell some water from a Styrofoam cup that Elvis supposedly drank from -- for $455. (He recently sold an appearance by the cup itself. Winning bid: $305.) Though some fans on Elvis Web sites have expressed outrage over the estate's sale, Lisa Marie says her father would be pleased. "Would he have wanted me to do the best thing for the future, for expanding the estate, for protecting his family?" she asks. "The answer would have been 'Hell, yes.'"
Source: For Elvis CD Collectors Forum / Updated: Jan 11, 2005 

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Reactions

dailyone (profilecontact) wrote on Jan 19, 2005report abuse
it will be a long time , no elvis is more than singer he is a legend and in usa he is american and his image will live forever . i dont know about his music though i hope so because that is the only reason i like elvis . saying that nicely
pacer1965 (profilecontact) wrote on Jan 16, 2005report abuse
When Graceland stops making money lisa will sell that next
Jon Carpenter (profilecontact) wrote on Jan 13, 2005report abuse
What I don't understand is why EPE can't expand the Elvis legacy the way they want Robert Sillerman to do, but there must be some sort of time shortage at EPE, since the 68' Comeback Special and Aloha From Hawaii weren't even quite like EPE themselves wanted (documentary, audio comments by Scotty Moore and D.J. Fontana on the 68 etc)
Jivin Jim (profilecontact) wrote on Jan 13, 2005report abuse
Thanks Willy,

It's good to see their are some thinkers amongst us. I totally agree with your comments.
William S. Burroughs (profilecontact) wrote on Jan 12, 2005report abuse
You´re right Jivin Jim, so right!

But as you say let´s hope Mr Siller Man keep his word, let´s hope he and the others involved do not alienate the fans and the potential new fans with cheap stuff and Elvis memorabilia for dumb people, let´s hope he conceive Elvis as: Art & fine Entertainment, a lenghtwise proyect!!! instead of seen big money making with the overexploited rock and roll Mickey Mouse of Japan´s and Europe Elvisland, a very cool place for old timers, nerds and retarded people where you can visit the Paradise Hawaii Cinema just to see him singing: Dog´s life, what a life! and the fabulous "I Can´t trust nobody Elvis Casino in Las Vegas"

I just hope this new Elvis management get what young people really like beyond young people alienation, let´s hope thinks happen in a way that Elvis would be happy with the image that young people get of him due to this new management. Let´s hope that Elvis, but remember that people is greedy and many times they don´t give a dam about your art and your talent they just want to make a quick buck out of you, your´mother told you that she didn´t liked that man, but you are always to good with people,and trust them, and even help them out after they exploited you;On the other hand you should show some of your fans that there is more in your self than singing "Teddy Bear", ahh but you don´t want to break their hearts, they like that so much, AMERICA gave you careless love and in the end that killed you, let´s hope that do not kill you twice...

"It ain´t no use to sit and wonder why babe, it don´t matter any how, Ain´t no use to sit and wonder why babe, if you don´t know by now, When the rooster crows at the break of dawn, look at your window and I´ll be gone. You´re the reason Im trav´lin´ on, so Don´t think twice it´s all right"

Yours: Willy "The Spook" Burroughs
Jivin Jim (profilecontact) wrote on Jan 12, 2005report abuse
I sit back with a little bit of neavous worry at the sale.

One only hopes the Mr sillerman does keep his word and we don't all of a sudden find Elvis on everything even tubes of toothpaste.

But to make $4 Billion dollars one must say he is no dumb cookee. We all must realise that we are the ones who buy the bulk of Elvis Material the fans and to do anything to alienate us would destroy his business.

I also don't think Lisa is silly, she also realises that a large percentage of Elvis Fans are Middle aged and getting older.

They need to market him in a way to bring in the younger generation. This may disturb us older fans but it needs to be done for Elvis' sake.
weberv41 (profilecontact) wrote on Jan 11, 2005report abuse
She was probably thinking of her children when she did this. Who the heck was going to take over all of that when Lisa dies? Her kids? She probably didn't want to make them have all of that responsibility that she herself had no choise about. This way she avoids that, but still keeps it in the family too, letting them all have their own lives, but still being part of Elvis' legacy.
data (profilecontact) wrote on Jan 11, 2005report abuse
He who hold 85% is the boss.
And the boss can do whatever he wants.
Only time will tell.
Sean Ryan (profilecontact) wrote on Jan 11, 2005report abuse
I do hope that Mr.Sillarman keeps his word cause if he changes his mind about the the future of the Elvis name there is not much Lisa can do about it now.
The thing that upsets me is why did Lisa choose the Rolling Stone mag to say this?
This infomation should have been directed to the fans cause they are the ones who are mostly concerned and dont really know whats going on since the takeover.This should have been done of the offical website.The general public ,i dont think, are not really interested.

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