The Elvis Presley brand has officially been purchased by the company that handles Marilyn Monroe’s image.
BBC reports that Authentic Brands group bought the Elvis brand with the intent of increasing the deceased singer’s popularity and fan base. His estate is worth an estimated $55m, making it the second richest estate of any deceased celebrity to Michael Jackson. Most of the money comes from marketing his image on several products and Graceland revenues.
Despite the fact that Authentic Brands will now own the Elvis Presley brand, Lisa Marie Presley — Elvis’ daughter — will continue to own Graceland. She said that she is looking forward to expanding the tourist attraction which contains many original Elvis artifacts.