Authentic Brands Group LLC and NECA Inc. Acquire the Intellectual Property of Marilyn Monroe LLC

NEW YORK and LOS ANGELES, Jan. 13, 2011 /PRNewswire/ -- Authentic Brands Group LLC (ABG), a leading intellectual property corporation, in conjunction with NECA, a global media and entertainment company, today announced the acquisition of the intellectual property of Marilyn Monroe LLC. Ms. Anna Strasberg, wife of the late Lee Strasberg, will continue her involvement as a minority partner in this joint venture.

Marilyn Monroe's legacy will not only live, but it will be greatly enhanced by ABG's and NECA's unparalleled track record in building brands with the world's greatest retail, promotional and manufacturing partners.

ABG is a leader in celebrity business ventures. Its executives currently manage the Bob Marley brand and ABG owns the TapouT and Silver Star brands.

ABG Chairman and Chief Executive Officer Jamie Salter commented on the acquisition: "Marilyn Monroe is recognized around the world as the embodiment of beauty and glamour. Quite simply, her name and her image have timeless appeal. We feel fortunate to be responsible for the future long-term success of the Marilyn Monroe brand."

NECA, an expert in media and entertainment properties, has been involved in the merchandising programs of most of the 20 highest grossing films ever and recently acquired the majority of the assets for Movie Gallery Inc. Joel Weinshanker, President and Chief Operating Officer of NECA said: "It is a great honor and responsibility to shepherd Hollywood's greatest star's legacy into the 21st century. I can't think of a better partner than ABG in this endeavor."

Ms. Anna Strasberg offered the following statement: "In light of my caring for the preservation of Marilyn Monroe's image over the years, and my personal and professional commitments to my husband, Lee Strasberg's, work, teaching, lecturing, and directing The Lee Strasberg Theatre & Film Institutes, and to my family, which now includes my grandchildren,  I am pleased to let you know that I have entered into a partnership with Jamie Salter and ABG, who impressed me with their bold, imaginative ideas.  I will remain involved, and I enthusiastically look forward to their innovative ideas and continuing to carry out with integrity Marilyn's great and timeless legacy."

SOURCE Authentic Brands Group LLC