Other Business Interests
Through savvy investments, Phillips soon amassed a fortune. He was one of the first investors with Roy Scott in Holiday Inn, a new motel chain that was about to go national; he became involved with the chain shortly after selling the rights to Elvis Presley to RCA for $35,000 which he multiplied many times over the years with Holiday Inn. He would also create two different subsidiary recording labels—Phillips International and Holiday Inn Records. Neither would match the success or influence of Sun, which Phillips ultimately sold to Shelby Singleton in the 1960s.
He also owned the Sun Studio Café in Memphis. One location was in the Mall of Memphis.
Phillips and his family founded Big River Broadcasting Corporation which owns and operates several radio stations in the Florence, Alabama, area, including WQLT-FM, WSBM, and WXFL.
Read more about this topic: Sam Phillips
Famous quotes containing the words business and/or interests:
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—Ralph Waldo Emerson (1803–1882)
“Unfortunately, many things have been omitted which should have been recorded in our journal; for though we made it a rule to set down all our experiences therein, yet such a resolution is very hard to keep, for the important experience rarely allows us to remember such obligations, and so indifferent things get recorded, while that is frequently neglected. It is not easy to write in a journal what interests us at any time, because to write it is not what interests us.”
—Henry David Thoreau (1817–1862)