Elvis Presley Enterprises, Inc.
Elvis Presley died at Graceland on August 16, 1977. His will appointed his father, Vernon Presley, who had long handled Elvis'® personal, non-career business affairs, as executor and trustee. The beneficiaries were Elvis'® grandmother, Minnie Mae Presley; his father, Vernon Presley; and his only child, Lisa Marie Presley. The will provided that Vernon Presley could, at his discretion, provide funds to other family members as needed. Vernon Presley died in 1979. Minnie Mae Presley died in 1980. This left Lisa Marie Presley as the sole heir to the estate. Elvis'® will stated that her inheritance was to be held in trust for her until her twenty-fifth birthday, February 1, 1993.
Upon Lisa Presley's twenty-fifth birthday in 1993, the trust automatically dissolved and Lisa chose to form a new trust, The Elvis Presley Trust, to continue the successful management of the estate, with Priscilla Presley and the National Bank of Commerce continuing to serve as co-trustees.
In 1998, as Lisa Marie Presley's role in the management grew, Priscilla Presley chose to redirect her efforts by moving to an advisory position, continuing her close involvement and support while focusing more time on her own ever-expanding individual pursuits as a successful actress and businessperson.
Lisa Marie Presley became more closely involved with the management team of The Elvis Presley Trust and its business entity, Elvis Presley Enterprises, Inc.(EPE), of which she was owner and Chairman of the Board until February 2005 when she sold a major interest in the company.
In February 2005, Robert F. X. Sillerman and his then new media and entertainment company CKX, Inc. acquired an 85% interest in the company Elvis Presley Enterprises, Inc., including its physical and intellectual properties. Lisa Marie Presley retains a 15% ownership in the company and continues to be involved, as does her mother Priscilla. The pre-existing EPE management team remains in place and the company's operations, including the Graceland tour, continue uninterrupted, only with a much brighter future and wider global outreach made possible with the new partnership. EPE is a subsidiary of CKX, Inc., which is a publicly traded company listed on the Nasdaq National Market System (NMS) under the ticker symbol CKXE.
Elvis Presley Enterprises' Licensing Division is charged with the responsibility of protecting and preserving the integrity of Elvis Presley®, Graceland and other related properties. The company accomplishes tis through the pursuit of the right commercial opportunities that fit with its financial strategies while maintaining desired branding and positioning for Elvis® and its other properties.
The LakeGeorge.com Elvis Festival is produced under license agreement with Elvis Preseley Enterprises, Inc.