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CKX To Buy And Shut Down Elvis Themed Museum In Las Vegas

(CelebrityAccess MediaWire) —

CKX, Inc.'s subsidiary, Elvis Presley Enterprises, Inc., has agreed to acquire the assets of the Elvis-A-Rama museum, located off the strip in Las Vegas, including the trademark to the name "Elvis-A-Rama," the related website and a substantial portion of the memorabilia currently on display at the Las Vegas-based establishment. The existing museum will be permanently closed and the Elvis-A-Rama name retired as part of CKX's overall plan to bring a world class Elvis-themed attraction to the Las Vegas strip.

"As we have mentioned on numerous occasions, establishing a major presence for the 'Elvis' brand in Las Vegas is an important priority of the company," said Robert F.X. Sillerman, chairman and CEO of CKX. "The closure of the museum together with the purchase of the artifacts and memorabilia currently located there, clears the way for implementation of our plan."

CKX is acquiring these assets from Chris Davidson and certain other minority partners. Davidson has been collecting Elvis memorabilia for over 10 years and is among the world's most well known private collectors of such items. As part of the purchase, CKX will grant to Davidson the right to open a licensed Elvis-themed museum in Hawaii, a location often associated with Presley. In addition to receipt of the licensing fee, CKX will retain the right to acquire a significant equity interest in the Hawaiian operations. Hawaii served as the location for three of Presley's films and perhaps most famously, was home to the 1973 concert "Elvis, Aloha from Hawaii," which was broadcast worldwide and ultimately viewed by more than 1.5 billion people around the world. –Bob Grossweiner and Jane Cohen