The legal heirs of Elvis Presley lost a lawsuit Wednesday in Germany claiming a fortune from Sony Music Entertainment Germany for what they called the "exploitation of Elvis Presley's greatest hits".
The Judge hearing the case in the Munich court mockingly quoted one of Elvis' 50s songs, saying, 'Money, honey, if you want to get along with me,' as he threw out the claim by Elvis Presley Enterprises for a share of the record company's profits over the past 40 years.
The unprecedented deal, thought up by Colonel Parker saw Elvis sign away to RCA Records in 1973 the rights to all his classic hits and more, including Heartbreak Hotel and Jailhouse Rock, for a lump sum of $5.4 million dollars.
The deal saw both Parker and RCA Records profit greatly while Elvis was walk away with less than £2 million dollars for all but his entire career. Sony later acquired the rights.
The Elvis estate argued the package was now worth $130 million dollars thanks to German copyright extensions.
They partly based their claim on a 2002 provision in German rights law that ordains a top-up of royalties for unexpected best-sellers.
But the judge disagreed. Christian Czychowski, the lawyer for Elvis Presley Enterprises, in which the icon's daughter Lisa-Marie Presley holds a 15-per-cent stake, said his client would appeal.
Source; Brian Quinn / EpGold