Elvis Presley's widow PRISCILLA has defended her decision to sell a massive stake in her late husband's Memphis, Tennessee estate, insisting the sale was hugely beneficial to Graceland's welfare. Presley sold 85 per cent of Elvis Presley Enterprises - which included rights to the rock legend's name and image - to entertainment investment agency CKX in February last year (05) but is keen to point out not much has changed since the takeover. She says, "Graceland is Graceland. We still have the same staff we've always had and it's still owned by my daughter, Lisa Marie. "We partnered with CKX, who came in and acquired the licensing to the name and image of Elvis. "What that means is they are able to take us to a place we could not have gone as a private company."