Marc Spilker

The global private equity company that owns the company that owns Elvis Presley Enterprises reported a 510 percent increase in its economic net income for the second quarter compared to a year ago.

Apollo Global Management LLC’s second quarter included the purchase of CKx Inc., the entertainment company that owns 85 percent of EPE. Apollo is a 20-year-old “alternative contrarian” investment firm with a business plan that includes buying distressed or undervalued assets in recessionary times.

But in a second-quarter earnings call with analysts Tuesday, Aug. 9, Apollo president Marc Spilker said the economic upheavals of the last week “make it seem like we’re talking about events that happened a lifetime ago.”

Spilker described the company as “well-positioned” to take advantage of some of the downturn even as he cautioned that events were still unfolding.

Neither Spilker nor Donnelly made any comments about plans for CKx and specifically Elvis Presley Enterprises.

Read more at: Memphis Daily News