Universal Music to manage Elvis Presley's song catalogue
The publishing catalogue of the "King of Rock 'n' Roll" includes hits such as "Can't Help Falling in Love" and "Jailhouse Rock".
Presley, who died at 42 years old in 1977, is among music's best-selling artists with more than 500 million records sold.
Universal's publishing arm will represent Elvis Presley's song catalogue, according to the terms of a new deal announced by the company and Authentic Brands Group, an intellectual property management outfit.
Tuesday's announcement of the agreement comes just months before the June release of Baz Luhrmann's anticipated biopic "Elvis," starring Austin Butler and Tom Hanks.
The companies did not provide the financial terms of the deal, which builds on a pre-existing relationship between them.
The rights to Elvis' catalogue is currently owned by Authentic Brands Group, whose portfolio includes celebrity brands such as Marilyn Monroe and Muhammad Ali.
Widely acclaimed as the best-selling solo music artist of all time, Presley has sold more than 500 million records and holds the distinction for most songs charting on Billboard's Top 40 with 114 hits.
READ MORE: Thousands honour the "King of Rock and Roll" on 40th death anniversary
In 1973, Elvis made television and entertainment history with his "Elvis: Aloha from Hawaii via Satellite." It was the first, worldwide live satellite broadcast of a concert.
The deal comes as music companies look to boost royalties by purchasing or managing artists' catalogues after the pandemic delayed release of new recordings and hit revenue streams.
Earlier this year, British singer-songwriter Sting sold his career music catalogue to Universal Music, while Warner Music Group's publishing unit acquired late British rock star David Bowie's entire catalogue spanning six decades.
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