EPE Parent Company : CKx Inc : Sold

[KPM]

Albert thats a great avatar-

[vivaelvis]

KPM, I agree with what all you said except for the economical situation. As early as 2005 some businesses were starting to complain that banks weren't giving loans, which was a major obstical that Silelrman and th company had to overcome and never could. I do agree that they dropped the ball and never knew what to do with the land that they aquired. To me, it seems that they wanted to go real big but then backed off and now have no idea how to get the ball rolling again. All I have seen or heard is talk and no walk.

Albert, I agree as well. However, we must take into account that Elvis was already a business ahead of performer or entertainer long before he died. When Parker entered the picture in 1956 Elvis became a machine operated by Parker and his staff. If you take a step back and look at how EPE is ran it's no different than how Parker ran the business when Elvis was alive. No different at all. If anyting it's actually better which isn't saying much. I think the human being gets lost in all of the glitz and glamour of his image. Therefor his music gets pushed aside.

Remember Elvis said himself, "the image is one thing and a human being is another. It's very hard to live up to an image".

[Unchained Melody]

it degrates Elvis from an unique person to just a business investment. Of course that's how the world turns (it's not that different from the way Elvis' career was handled during his life).

I completely agree Albert, sad that is how Elvis' career was handled and it just saddens me to think of it still being that way long after he's passed on.

[KPM]

KPM, I agree with what all you said except for the economical situation. As early as 2005 some businesses were starting to complain that banks weren't giving loans, which was a major obstical that Silelrman and th company had to overcome and never could. I do agree that they dropped the ball and never knew what to do with the land that they aquired. To me, it seems that they wanted to go real big but then backed off and now have no idea how to get the ball rolling again. All I have seen or heard is talk and no walk.

Albert, I agree as well. However, we must take into account that Elvis was already a business ahead of performer or entertainer long before he died. When Parker entered the picture in 1956 Elvis became a machine operated by Parker and his staff. If you take a step back and look at how EPE is ran it's no different than how Parker ran the business when Elvis was alive. No different at all. If anyting it's actually better which isn't saying much. I think the human being gets lost in all of the glitz and glamour of his image. Therefor his music gets pushed aside.

Remember Elvis said himself, "the image is one thing and a human being is another. It's very hard to live up to an image".

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CMT NewsBusinessman Acquires Majority Ownership of Elvis Presley Enterprises
Lisa Marie Presley Will Retain Father's Personal Effects and Title to Graceland
December 16, 2004; Written by Calvin Gilbert
SFX Entertainment founder Robert F.X. Sillerman is acquiring majority ownership in the assets of Elvis Presley's estate, officials of Elvis Presley Enterprises announced Thursday (Dec. 16).

The new partnership will conduct all business activities involving Elvis Presley Enterprises, Graceland and tour operations. However, the singer's sole heir, daughter Lisa Marie Presley, will retain most of her father's personal effects and title to Graceland and its 13-acre grounds in Memphis. The new partnership includes all trademark rights to the name, likeness and image of Elvis Presley and all EPE-owned intellectual property, including its lucrative music publishing catalog.

The estate generates annual revenues of approximately $40 million to rank Presley at No. 1 on Forbes magazine's annual list of top-earning dead celebrities. Lisa Marie's mother, Priscilla Presley, established EPE in 1980 on behalf of the Elvis Presley estate. Elvis Presley died in 1977.

"For the past few years I've been looking for someone to join forces with to expand the many facets of EPE, to take it to new levels internationally and to make it an even greater force in the entertainment industry," Lisa Marie Presley said in a written statement. "I feel confident that Bob Sillerman and his team are the right people to do this with.

"My greatest responsibility to my father is to preserve and protect his legacy, and this is an exciting new structure that opens up an incredible array of opportunities with a major infusion of new investment capital to do just that. It's the ideal partnership in that I retain Graceland and my father's personal effects, yet joining forces with Bob Sillerman will give us the opportunity to grow even further the intellectual and entertainment properties."

Sillerman was a major shareholder and executive chairman of SFX Entertainment from its creation in 1997 until its sale to Clear Channel Communications in August 2000. SFX Entertainment produced live events throughout the world. Prior to that, Sillerman was a founder and executive chairman of SFX Broadcasting, a company that owned and operated a chain of radio stations, from its inception in 1992 until its sale in 1998.

Sillerman is creating a new company, CKX, Inc., oversee the Presley venture. Priscilla Presley, the former wife of the Country Music and Rock and Roll Hall of Fame member, will continue to serve as executive consultant to EPE.

Late Thursday, Lisa Marie Presley issued another written statement aimed at fans to "further clarify and ease any worried minds."

"The search for the right person has been going on for years," she said. "None of us at EPE would have done this if it weren't in the best interest of my father and his legacy. No stone was left unturned in making sure that business will be run as it historically has been, with integrity, always preserving and protecting my father.

"The executives, my mother and myself remain very active in the operations of Graceland and its entities. What is and has been done will remain, and merging with Bob Sillerman and his team simply gives us new opportunities that we didn't have before......
Well if the economy in 2005 was downturning- Financial Wiz Sillerman must have been caught off guard, why make a deal such as this for the amount he did otherwise.
He came up with the capital to make the deal-a man as adept at these matters as he is portrayed just seems to have somehow dropped the ball in the next year.
Lisa on the other hand ended up with over 100 million up front 15% ownership in profits and still owns the house, land, and personal property inside.
Not bad!

[Jungleroom76]

I just got back from Memphis this week. My family was in the path of the flood and we had to pack up everything and move them out.

I am so sorry to hear about this my friend. I Just hope the damage won't be too serious when your family is allowed to return to their property.

While there this news about CKX broke on the local news there and has drawn serious concerns regarding the future of Graceland as a business for Memphis' economy. Some city council members don't think it will happen now or anytime soon. Mainly because the state and the city are strapped for cash and cannot reach their part of the deal which is what really put it on hold to begin with. Not CKX. EPE and CKX are searching for a third party to build a new Heartbreak Hotel but that's looking bleek.

Honestly, when I was in Memphis during ELVIS WEEK 2000, as I toured the HEARTBREAK HOTEL, I was a little underwhelmed by the whole thing. While it was certainly a nice hotel and all, I really thought it would have been much grander than it was. Maybe my expectations were a little too high...

But anyway, I am glad that they have plans to build a new and improved HEARTBREAK HOTEL but if that is the holdup in the expansion project, then perhaps they should just leave that part alone for the time being and focus on the other parts of the expansion. They can always come back to the hotel reconstruction later. However I am guessing that it's the whole project that Memphis is having trouble financing, especially since there is going to be some MAJOR funds needed to re-design and reconstruct Elvis Presley Blvd. around the mansion. Of course, the state of Tennessee or even the federal government will probably have some financial input into the highway project as well, but sadly I'm sure there are things the federal government finds more important than reconstructing EP Blvd.

Now, what I am hearing from a reliable source is that Apollo Management may have a bigger vision for Elvis and it may or may not be in Memphis. There's talk of building a theme park-like setting in Orlando, FL similar to The Holy Land Experience with a replicas of Graceland and Sun Studios. It would also be alot cheaper than to build in Las Vegas or Memphis. Orlando is now America's top destination for families with Disney World, Epcot Center, Holy Land Expereince, Animal Kingdom, NASA, etc.

What would happen to Graceland if that did become the new plan? Most likely it would remain opened to the public but some or most of the artifacts could be relocated down to Florida.

I CAN'T EVEN BEGIN TO FATHOM THAT CONCEPT!!!

While I am all for re-creating the upstairs at Graceland in some way for the fans to see, building a replica of Graceland in Orlando (or anywhere else in the U.S.) is just unthinkable. Graceland is in Memphis...Memphis is where Elvis lived...and that is that!!! If fans are coming to see Elvis' home, they should be coming to Memphis, not a replica with Elvis' possessions in it. Disney World is in Orlando...Graceland is in Memphis!! End of discussion!!!

TCB!
Mike

[Unchained Melody]

I CAN'T EVEN BEGIN TO FATHOM THAT CONCEPT!!!

While I am all for re-creating the upstairs at Graceland in some way for the fans to see, building a replica of Graceland in Orlando (or anywhere else in the U.S.) is just unthinkable. Graceland is in Memphis...Memphis is where Elvis lived...and that is that!!! If fans are coming to see Elvis' home, they should be coming to Memphis, not a replica with Elvis' possessions in it. Disney World is in Orlando...Graceland is in Memphis!! End of discussion!!!

TCB!
Mike

Totally agree buddy, my thoughts EXACTLY!!!!!

[Jungleroom76]

Totally agree buddy, my thoughts EXACTLY!!!!!

I mean, I certainly an in awe of what Henrik Knudsen has done in Denmark with the building and opening of his massive Graceland Randers project!! What an AMAZING idea and to be able to pull something together like that is just spectacular and I wish him nothing but the best in his endeavor. And, as much as I HATE to fly, I would fly to Denmark to see Graceland Randers if I ever had the opportunity!!!

But that is in another country and obviously not an exact replica of Graceland on the inside. To build something like an EXACT replica of Graceland here in the U.S., when we have the REAL thing here, is just not acceptable to me...PERIOD!!!!

TCB!
Mike

[vivaelvis]

I can understand your disapproval for a Graceland replica. Although from my understanding is that it would be for more looks only as part of a park setting. But, this is all speculation and rumors will begin to spread on what will or won't happen with the real Graceland in the coming months. Some may have legs while others may not.

[Jungleroom76]

I can understand your disapproval for a Graceland replica. Although from my understanding is that it would be for more looks only as part of a park setting. But, this is all speculation and rumors will begin to spread on what will or won't happen with the real Graceland in the coming months. Some may have legs while others may not.

Oh, I know it's only premature speculation and rumor...just had to voice my displeasure on the idea of even thinking about opening up a "faux Graceland"!!

TCB!
Mike

[Unchained Melody]

Oh, I know it's only premature speculation and rumor...just had to voice my displeasure on the idea of even thinking about opening up a "faux Graceland"!!

TCB!
Mike

The fact that Graceland is the place Elvis cherished so much and lived for 20 some years, and died there, is the reason people want to go tour the place. The events that occured there, make it what it is when you go there. I seriously doubt anything will happen to Graceland as far as tours closing etc so it don't bother me if someone wants to make a replica, as long as the real thing is always there and available to the public for tours.

[Jungleroom76]

The fact that Graceland is the place Elvis cherished so much and lived for 20 some years, and died there, is the reason people want to go tour the place. The events that occured there, make it what it is when you go there. I seriously doubt anything will happen to Graceland as far as tours closing etc so it don't bother me if someone wants to make a replica, as long as the real thing is always there and available to the public for tours.

And as long as the replica (if one were to be built) doesn't become publicized so much that the REAL Graceland becomes secondary to the fake Graceland!!

TCB!
Mike

[vivaelvis]

I saw this posted in the Wall Street Journal. It looks like AM is planning to spend money on Graceland after all. http://online.wsj.com/article/SB1000...googlenews_wsj

"The sale ends more than two years of ownership uncertainty for CKX, and gives the company a deep-pocketed buyer to push through possible expansion plans for the "American Idol" television franchise and Graceland."

[LaurieT]

It says "Graceland becomes Apollo’s property seven years into a stalled expansion of the mansion’s footprint even as CKx expanded the spread of the Elvis image worldwide."
That seems pretty clear. Why would they do all the work and expansion on a rental property. That would be stupid.

[vivaelvis]

I wished that the media would stop saying "mansion" when describing the expansion. They make it sound as if reconstruction and addition to the home itself is being planned. Not a good thing and only stirs the pot more.

[Unchained Melody]

I can understand your disapproval for a Graceland replica. Although from my understanding is that it would be for more looks only as part of a park setting. But, this is all speculation and rumors will begin to spread on what will or won't happen with the real Graceland in the coming months. Some may have legs while others may not.

I'm going to roll with the latter, quoted in bold

[KPM]

I saw this posted in the Wall Street Journal. It looks like AM is planning to spend money on Graceland after all. http://online.wsj.com/article/SB1000...googlenews_wsj

"The sale ends more than two years of ownership uncertainty for CKX, and gives the company a deep-pocketed buyer to push through [B]possible expansion plans[/B] for the "American Idol" television franchise and Graceland."

Well the writer of the article is speculating about what Apollo might due its not really an announcement of future policy decisions by Apollo.
Apollo may be deep pocketed, but the "possible expansion plans" will probably be totally scrutinized by the company, especially after the haphazard way CKX has gone about its decision making process.
I have little faith in big business and those who run the shows, they tend to get either over-cautious, or over anxious....they can not find the middle ground.

[vivaelvis]

What I found out about the Orlando based theme park rumor is that it's being considered DOWN THE ROAD but not expected to impact what they do with Graceland. If anything the new owners may use it as leverage to get what they want from the city and state. But my source strongly believes that the new owners will put their attention soley on Graceland and the American Idol franchise. They have the type of funding to put behind those projects that CKX lacked. What happened with the selling of the company was exactly what Sillerman tried to do back in 07. Take it private. EPE is in much better hands financially and long term-wise with AM than they ever were under CKX.

KPM, the problem wasn't what to do with the extra land that they aquired, it was getting the private backing and funding to get the expansion off the ground. My source tells me that they're looking at a outrageous pricetag at around $700 million or more for what all they are wanting to do. EPE is said to be worth about $260 million. The fact is that Sillerman wasn't the smart business investor that they thought he was and was in way over his head.

[KPM]

What I found out about the Orlando based theme park rumor is that it's being considered DOWN THE ROAD but not expected to impact what they do with Graceland. If anything the new owners may use it as leverage to get what they want from the city and state. But my source strongly believes that the new owners will put their attention soley on Graceland and the American Idol franchise. They have the type of funding to put behind those projects that CKX lacked. What happened with the selling of the company was exactly what Sillerman tried to do back in 07. Take it private. EPE is in much better hands financially and long term-wise with AM than they ever were under CKX.

KPM, the problem wasn't what to do with the extra land that they aquired, it was getting the private backing and funding to get the expansion off the ground. My source tells me that they're looking at a outrageous pricetag at around $700 million or more for what all they are wanting to do. EPE is said to be worth about $260 million. The fact is that Sillerman wasn't the smart business investor that they thought he was and was in way over his head.

But that seemed to be to be the main problem-making the decision as to what "exactly" to do after the land was bought.
A huge furturistic state of the art museum-was one plan, then an Elvis mini mall that had a Disney type theme park at its center, then talk of a Huge Hotel or convention center with Elvis as the theme. All were rumors that floated about and they had to have some basis in fact-even if it was only the board of directors (or Sillerman) thinking out loud.
The "outrageous pricetag" of $700 million would be for which project-or which series of projects that never got off the ground?
As far as Sillerman being way in over his head-check back on my posts on this subject in various threads and you will see I have said that from the 2nd year of his 85% acquisition of EP marketing rights. Too many rumors and too little action, too much confusion and not enought clarity in the direction of the plans.
I predicted that all the potential roadblocks that seemed to be taken as sure things by Sillerman fans-were not sure things, they were in fact long shots with quite a few pitfalls that had to be overcome-before fruition could be seen.
I recall someone saying Sillerman was going to buy Sony so he could have Elvis's total music catalogue in hand, that Sillerman said totally new recordings by Elvis would be coming out shortly, that Sillerman was powerful and rich enough to buy the rights to Elvis films specifically TTWII and EOT....all rumors that ended up just that-rumors.
I said back in 05 lets wait and see what happens-well the time has come and we all see.
I do not worry so much what is being considered down the road-because the road and circumstance have a way of changing so very easily in the business world.
What is being considered for down the road is often business bravado to shore up stock prices or the company bottom line, the amount of truth in such talk should be taken with a grain of salt.
Actually the "down the road" talk can do more harm than good if the rumors do not pan out in some form .....it makes stockholders nervous, and anxious about the management and planning for the company they have money invested in.
What will happen will happen-one way or another.

[vivaelvis]

But that seemed to be to be the main problem-making the decision as to what "exactly" to do after the land was bought.
A huge furturistic state of the art museum-was one plan, then an Elvis mini mall that had a Disney type theme park at its center, then talk of a Huge Hotel or convention center with Elvis as the theme. All were rumors that floated about and they had to have some basis in fact-even if it was only the board of directors (or Sillerman) thinking out loud.
The "outrageous pricetag" of $700 million would be for which project-or which series of projects that never got off the ground?
As far as Sillerman being way in over his head-check back on my posts on this subject in various threads and you will see I have said that from the 2nd year of his 85% acquisition of EP marketing rights. Too many rumors and too little action, too much confusion and not enought clarity in the direction of the plans.
I predicted that all the potential roadblocks that seemed to be taken as sure things by Sillerman fans-were not sure things, they were in fact long shots with quite a few pitfalls that had to be overcome-before fruition could be seen.
I recall someone saying Sillerman was going to buy Sony so he could have Elvis's total music catalogue in hand, that Sillerman said totally new recordings by Elvis would be coming out shortly, that Sillerman was powerful and rich enough to buy the rights to Elvis films specifically TTWII and EOT....all rumors that ended up just that-rumors.
I said back in 05 lets wait and see what happens-well the time has come and we all see.
I do not worry so much what is being considered down the road-because the road and circumstance have a way of changing so very easily in the business world.
What is being considered for down the road is often business bravado to shore up stock prices or the company bottom line, the amount of truth in such talk should be taken with a grain of salt.
Actually the "down the road" talk can do more harm than good if the rumors do not pan out in some form .....it makes stockholders nervous, and anxious about the management and planning for the company they have money invested in.
What will happen will happen-one way or another.

According to those in the know, EPE knew exactly what they wanted to do. It was all about getting the funding lined up to make it happen which never happened. Now that the estate will be under a new owner, look for things to soon pick up again. Apollo Management has a solid track record compared to that of CKX. Not to mention they have much deeper pockets and don't have to depend on banks for loans. They ARE the bank to their properties. It wasn't like that for Sillerman and CKX. AM's CEO, Leon Black has a NET worth of $2 BILLION and has invested more than $16 BILLION of financial investments into 5 equity funds. Here's the link to back that up. http://www.wealthvest.com/blog/tag/apollo-management/ Point being that AM has the money that CKX was searching for to put into the redevelopment. Will Black and AM want to spend the moeny to make Graceland a bigger draw? Time will tell, but all signs point to yes.

[KPM]

According to those in the know, EPE knew exactly what they wanted to do. It was all about getting the funding lined up to make it happen which never happened. Now that the estate will be under a new owner, look for things to soon pick up again. Apollo Management has a solid track record compared to that of CKX. Not to mention they have much deeper pockets and don't have to depend on banks for loans. They ARE the bank to their properties. It wasn't like that for Sillerman and CKX. AM's CEO, Leon Black has a NET worth of $2 BILLION and has invested more than $16 BILLION of financial investments into 5 equity funds. Here's the link to back that up. http://www.wealthvest.com/blog/tag/apollo-management/ Point being that AM has the money that CKX was searching for to put into the redevelopment. Will Black and AM want to spend the moeny to make Graceland a bigger draw? Time will tell, but all signs point to yes.

Deja Vu.......Please forgive my skeptisism but we heard this about Sillerman and CKX when they bought into EPE.
Curious as to who "those in the know are"?
I can only go by what was reported in the news, entertainment and business in the last 7 years since 85% of EPE was sold and "Money" was not the problem that was being reported-matter of fact Sillerman was suppose to be the owner of the proverbial golden goose-so money was not being tossed around as a problem in the press-(until the last couple years) I am skeptical for good reason, business and entertainment often just do not go hand in hand.
Good example-Parker/Business.......Elvis/entertainment-both understood their end-but did not understand the other end.
Elvis knew what was good material, knew what a good script was, knew what he wanted in his stage show.
Parker knew what a good monetary contract was, knew how to squeeze the last dime out of any deal, and knew how to line up money years in advance contractually.
But Parker did not understand letting an artist have growth-nor how stupid movies and less than stellar songs would only kill the golden goose.
Elvis did not understand the contracts in total, did not understand how long term deals in film and Vegas sold him short and kept him boxed into poor entertainment vehicles.(until the damage was already done) Business and entertainment are a strange and necessary mix but- they are oil and water.
When "people in the know" make these pronouncements they raise expectations, they fuel a fire-yet when they fall thru or never materialise you are not even sure who said it, how serious they were when they said it etc.......
Lets wait and see thats my attitude.