Looking to do Elvis Presley and Kurt Cobain one better, the family of Ol' Blue Eyes is seeking to fortify his legacy.

Frank Sinatra

The family of Frank Sinatra inked a deal this week with Warner Bros., the subsidiary label of Warner Music Group, to manage all of Sinatra's musical, film, and stage work, as well as licensing for the name and likeness of the star, under one entity: Frank Sinatra Enterprises.

The deal continues Sinatra's long relationship with Warner's Reprise Records, which he helped found and for which he made more than 50 albums over the course of his career. Sinatra died in 1998 at the age of 82.

"We were extremely selective in choosing a partner with whom to manage our father's life work. It was a process that took several years," the family said in the statement. "Our father founded Reprise Records almost 50 years ago; we have worked with Warner Music Group for many years, and we are thrilled to continue the journey with them and the new company into the future."

The new partnership will own Sinatra's recordings from the Reprise era, as well as films, TV specials and unreleased footage, photos and audio recordings, and pursue new products and ventures with respect to Sinatra.

The deal signals a new effort to promote Sinatra's legendary music, TV, and film catalog in an era when the images of deceased icons like Elvis Presley and Kurt Cobain generate millions of dollars in revenue per year.

In the past two years, Presley and Cobain have topped Forbes' list of the highest earning dead celebrities, respectively, with Presley earning an estimated $49 million in the year ending October 2007.