NOVEMBER 21, 1955
“Signing of the Contract between Elvis and RCA VICTOR”
Finally, on August 15, Elvis signs a management contract with Hank Snow Atractions, which is owned equally by Hank Snow and Colonel Tom Parker. Bob Neal continues to participate as a consultant but his figure will become increasingly diluted. Colonel Parker becomes Elvis’ exclusive manager from this moment on, while his contractual relationship with Snow will soon cease to be valid.
Col.Parker focuses his first moves on getting the figure of Elvis to expand throughout the American territory, given that everything and Elvis’s success is only important in the southern part. The first of these movements is to close a deal with RCA.
It is signed on November 21 in the presence of RCA executives Sam Phillips and Elvis’ parents. The contract includes ownership for RCA of his five Sun singles and his unreleased material. The purchase price of the SUN label contract is an unprecedented $35,000, with a $5,000 bonus for Elvis.
RCA soon made reissues of all five Sun singles on the RCA label. At the same time, Elvis signs a contract with Hill and Range Publishing Company, creating a company called Elvis Presley Music, Inc. Elvis will share with Hill & Range ownership of the publishing of the songs purchased by Hill & Range that he would record.
Elvis becomes the new star in the music business.
Information provided by Club Elvis Spain http://www.clubelvis.org
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