LISA MARIE SELLS THE FAMILY BUSINESS

Reuters reports that Lisa Marie Presley sold 85 percent of the Elvis Presley estate to SFX radio founder and concert promoter Robert F.X. Sillerman. Elvis' estate includes rights to the singer's name and the management of Graceland, and is valued around $100 million. Sillerman will pay $53 million in cash and assume $25 million in Presley Enterprises debt, paying the balance in shares. Lisa Marie retains the title to Graceland mansion, Elvis' home where he died in 1977.

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