Elvis Presley’s back catalogue of music has been acquired by bosses at Universal, according to Music News.
The agreement, the outlet reports, comes as part of a deal agreed between executives at Authentic Brands Group, the owner of Elvis Presley Enterprises, and Universal Music Publishing Group (UMPG).
Specific terms of the contract were not disclosed.
Together, Universal and Authentic now have exclusive rights to represent Elvis’s music globally, except in the U.K.
“Elvis Presley has had an unprecedented and lasting global impact on music and pop culture,” Marc Cimino, chief operating officer, said in a statement.
Referring to chairman and chief executive officer Jody Gerson, Marc continued, “Jody Gerson and I, along with UMPG’s teams around the world, couldn’t be more excited and honoured to work with ABG in making sure that Elvis’ iconic legacy endures for generations to come.”
The news comes in the lead up to the release of Baz Luhrmann’s biographical drama, Elvis. The film stars Austin Butler and Tom Hanks and is set to premiere at the Cannes Film Festival in May.
“(This year) is shaping up to be a banner year for Elvis, highlighted by the highly-anticipated theatrical release this June of Elvis directed by Baz Luhrmann, as well as the debut of Netflix’s upcoming animated action series Agent King,” added ABG President of Entertainment Marc Rosen. “We are honoured to work in partnership with UMPG as guardians of Elvis’s incomparable catalogue, bringing his music and cultural influence to audiences around the world.”
Authentic Brands Group owns more than 50 consumer brands, as well as the likeness rights or estates of late celebrities, including Marilyn Monroe and Muhammad Ali.
