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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—Bible: Hebrew Psalms 107:23-24.
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