December 18, 2004

Most of Elvis Presley's estate has been sold for US$100 Million, with the exception of Graceland and other personal effects.

Lisa Marie Presley sold the rights to Elvis' name, image, music and movies.

The deal was announced Thursday by Elvis Presley Enterprises Inc.

The sale amounts to about 85 percent of Presley's assets. The Presley estate brought in about US$45 million last year.

The estate was purchased by Robert Silverman, founder of FSX Entertainment.

Lisa Marie Presley, Elvis' daughter, will keep Graceland and the surrounding property, as well as Elvis' cars and other personal effects.

'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,'' Lisa Marie said in a statement.