The Elvis Presley Family Supports Potential Sale Of CORE Media’s Majority Estate Stake

As we reported earlier this week citing the Financial Times, CORE Media Group is exploring a sale of Elvis Presley Enterprises as well as Muhammad Ali Enterprises. There had been no official comment on the potential sale until now. Deadline has obtained exclusively a statement from the Presley family about the development. “Our family enjoys a strong working relationship with CORE and is supportive of their process,” the statement says. “Lisa [Marie Presley] will maintain her interest in EPE and ownership of Graceland Mansion and looks forward to whatever opportunities enable the best long-term interests of the family.” Lisa Marie Presley owns 15% of EPE, which manages the assets of the Elvis Presley estate, including the 100-acre property in Memphis, Tennessee. CORE’s predecessor, CKX, bought the other 85% in 2005. (The Muhammad Ali family retains 20% ownership in MAE.) The Presley and Ali assets are estimated to fetch more than $200 million but CORE is not dead set to sale and may retain the properties if it is not satisfied with offers.