Graceland to Undergo Overhaul

MEMPHIS, TN - Thousands of Elvis Presley fans soon will descend on Memphis for the 30th anniversary of his death on August 16.

And the visitors complex they'll see when they arrive at Graceland is starting to show its age.

But managers of Presley's famous home have plans to overhaul it, with a new visitors center bigger than a football field, a convention hotel and high-tech museum displays.

All it will take to bring about those changes is about $250 million, the total reorganization of CKX, the New York-based company that controls Elvis' image and a publicly supported facelift for Graceland's struggling neighborhood.

The obstacles aren't small, but the people behind the plans have a history of putting together big deals, including CKX Chairman Robert Sillerman, a multimillionaire dealer in media and entertainment assets.

Sillerman thinks the proposed changes could mean big money, and that's in addition to the more than $40 million a year brought in by all things Elvis.

(Copyright 2007 by The Associated Press.  All Rights Reserved.)