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Financial terms of the deal were not disclosed,
although Universal Music Publishing Group said on Tuesday it
would approve and collect revenue when Elvis' songs are used in
media, films or television.
The deal comes ahead of the June release of director Baz
Luhrmann's drama "Elvis", a biopic of the "Heartbreak Hotel"
singer, starring Tom Hanks and Austin Butler.
The rights to Elvis' catalog 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.
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' catalogs after the pandemic
delayed release of new recordings and hit revenue streams.
Earlier this year, British singer-songwriter Sting sold his
career music catalog to Universal Music, while Warner Music
Group's publishing unit acquired late British rock star David
Bowie's entire catalog spanning six decades.
(Reporting by Tiyashi Datta in Bengaluru and Dawn Chmielewski;
Editing by Anil D'Silva)
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