By Claire Atkinson
October 7, 2013
Authentic Brands, which owns the rights to Marilyn Monroe's name and image, has emerged as the lead bidder for Elvis Presley Enterprises which is being sold by Apollo’s Core Media Group, The New York Post has learned.
The brand licensing company, backed by private-equity firm based out of New York, NY. Leonard Green, has been in the hunt for a while but recently upped its offer to $125 million, according to sources. That’s $15 million more than a bidding consortium led by G2 Investment Group, which teamed with music publishing firm Sony/ATV and Highbridge Capital.
Besides the name and likeness of Elvis, Core Media is looking to unload the Graceland tour operation and Elvis’ music publishing assets as it focuses on its TV production interests.
While the negotiations are ongoing, executives of Authentic Brands, headed by Jamie Salter , have met with Elvis Presley Enterprises.
Authentic has snapped up the rights dead celebrities, including reggae legend Bob Marley, in addition to buying fashion brands such as Hickey Freeman suits and Spyder ski wear.
source: http://www.nypost.com - The New York Post