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Graceland May Remove Presley’s Planes, Lou Reed Estate Worth $20 Million

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Planning a trip to Graceland? You may have until next year to see the famous planes, in which Elvis Presley once rode in.

Elvis Presley Enterprises, the operators of Graceland, recently announced plans to remove the jets “Lisa Marie” and “Hound Dog” by next spring. It is due to the company’s decision to end their association with OKC Partnership, who had a hand in bringing to two jets to Graceland, and receive a cut in ticket sales.

Upon giving the announcement of the planes’ removal, there have already been the warning of an uproar from fans, especially those that who visits Graceland every year as part of annual pilgrimages to events such as Elvis Week. As mentioned by a fan, residents and visitors of Memphis love seeing the planes, as it is part of the aura of Presley’s legacy, and therefore would be considered blasphemy if they were taken away. And that is not the only concern. There are also questions on the future use of the site of where the airplanes currently sit, as well as what to do with them if they are removed. But there also have been mentioning of hope, the planes will remain at Graceland, as OKC hopes to negotiate a deal for it to be so.

In other music news, Associated Press announced that the estate of the late Lou Reed is worth over $20 million, and is bequeathed to his musician wife Laurie Anderson, and sister. The executors of the rocker’s estate have valued musical rights and other assets in court papers filed Monday in Manhattan, as part of legal followings of the will, filed in November. However the sum did not include a million-dollar home in East Hampton, New York, or Manhattan apartment.

Reed, who fronted the Velvet Underground, and whose solo works include the hit “Walk on the Wild Side” and albums such as 1972’s Transformer and 1973’s Berlin, died on October 27 at age 71.

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