WINMANWIN
12-17-2004, 11:07 PM
This stock called Sports Entertainment Symbol ( SPEA ) was 6 CENTS, THAT'S RIGHT 6 CENTS 2 days ago :eek: Today it peeked at over $11.00 :eek: and it closed at $9.10..The company bought the rights to the Elvis Presley estate from Lisa Marie. ASTOUNDING MOVE.
NEW YORK (CBS.MW) -- Shares of Sports Entertainment Enterprises stayed hot for a second straight day Friday after the stock soared more than 6,000 percent on plans to convert the shell company into a vehicle to market Elvis Presley's estate.
Plan for Elvis listing sends OTC stock soaring
More news for SPEA
IN A $100 million deal cleared by Presley's sole heir Lisa Marie Presley, entertainment producer and founder of SFX Entertainment Robert Sillerman said Thursday he'll buy Elvis Presley Enterprises Inc., founded after the star's 1977 death.
At the same time, Sillerman set plans to buy about 94 percent of Sports Entertainment Enterprises (SPEA: news, chart), a mostly inactive, publicly traded company, and roll the Presley estate into a new business.
The new company will operate under the name CKX Inc., with plans for a public listing of stock.
Shares of Sports Entertainment Enterprises tacked on almost 42 percent Friday, rising $2.69 to close at $9.10. On Thursday, shares rocketed to $6.31 from its close of 10 cents the day before.
The transaction was structured so that the title to the Graceland estate and its 13.6-acre grounds in Memphis and most of Elvis's personal effects remain with Lisa Marie Presley, the singer's daughter.
The new partnership includes all trademark rights to the name, likeness and image of Elvis Presley, as well as intellectual property, including photographs, archival documents and footage, and the music publishing catalog.
The deal also includes the Graceland visitor center complex and Heartbreak Hotel across the street from the mansion and all other real-estate investments.
Sillerman is founder of SFX Entertainment, a major concert venue and entertainment firm sold to Clear Channel in 2000 for about $4.4 billion in stock.
On a combined and unaudited basis, the "Elvis" businesses reported net operating income of $9.4 million and revenue of $37.9 million for the nine months ended Sept. 30.
Sports Entertainment Enterprises is a Las Vegas-based shell company whose principals operate a golf and tennis sporting goods center.
NEW YORK (CBS.MW) -- Shares of Sports Entertainment Enterprises stayed hot for a second straight day Friday after the stock soared more than 6,000 percent on plans to convert the shell company into a vehicle to market Elvis Presley's estate.
Plan for Elvis listing sends OTC stock soaring
More news for SPEA
IN A $100 million deal cleared by Presley's sole heir Lisa Marie Presley, entertainment producer and founder of SFX Entertainment Robert Sillerman said Thursday he'll buy Elvis Presley Enterprises Inc., founded after the star's 1977 death.
At the same time, Sillerman set plans to buy about 94 percent of Sports Entertainment Enterprises (SPEA: news, chart), a mostly inactive, publicly traded company, and roll the Presley estate into a new business.
The new company will operate under the name CKX Inc., with plans for a public listing of stock.
Shares of Sports Entertainment Enterprises tacked on almost 42 percent Friday, rising $2.69 to close at $9.10. On Thursday, shares rocketed to $6.31 from its close of 10 cents the day before.
The transaction was structured so that the title to the Graceland estate and its 13.6-acre grounds in Memphis and most of Elvis's personal effects remain with Lisa Marie Presley, the singer's daughter.
The new partnership includes all trademark rights to the name, likeness and image of Elvis Presley, as well as intellectual property, including photographs, archival documents and footage, and the music publishing catalog.
The deal also includes the Graceland visitor center complex and Heartbreak Hotel across the street from the mansion and all other real-estate investments.
Sillerman is founder of SFX Entertainment, a major concert venue and entertainment firm sold to Clear Channel in 2000 for about $4.4 billion in stock.
On a combined and unaudited basis, the "Elvis" businesses reported net operating income of $9.4 million and revenue of $37.9 million for the nine months ended Sept. 30.
Sports Entertainment Enterprises is a Las Vegas-based shell company whose principals operate a golf and tennis sporting goods center.