Tough economic conditions in the past two years, including a dearth of financing for construction and development, have delayed a study looking at updating the Graceland attraction.
The review, which Ferrel said is roughly half-done, is looking at modernizing Graceland and redeveloping the area surrounding it without touching the 13 acres where the home and grave sit.
As the future of Graceland is mapped out, CKx is fielding offers.
CKx said in March it was in talks to sell the company after The Wall Street Journal reported CKx was close to selling itself to the private equity firm One Equity Partners.
Then, in May, the company said it received an acquisition offer from a group of investors led by Fuller.
About a month later, CKx said it heard from an undisclosed third party interested in purchasing a minority stake. CKx said the potential investor was in talks with Sillerman, the company’s former chief executive, about joining the bid.
In response to that offer, CKx adopted a shareholder rights plan _ also known as a “poison pill” _ meant to thwart hostile takeovers and protect shareholders.
By Elaine Donnelly
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