Elvis Presley and Muhammad Ali‘s estates owned by Core Media are on a second round of bids as the deadline for the auctions passes.
Among the bidders are Sony Corp. and the G2 Investment Group.
Sony Music Entertainment already controls the Presley master recording catalog; therefore, a successful bid would make sure that the company would no longer make artist royalty payments to the estate.
What’s making this auction difficult is the packaging of the assets. For instance, the Presley estates includes, not only recording masters and publishing assets, but also real estate, such as Graceland and Heartbreak Hotel.
Image by Joseph Novak, licensed under Creative Commons Attribution 2.0 Generic (CC by 2.0)