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Elvis's teenage grandson gets $5 million record deal; has he earned it?

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According to England’s Daily Mail, Benjamin, the 17-year-old son of Lisa Marie Presley and musician Danny Keough, is following mom and grandpops into the family business — and he’s already been signed to a $5 million, five-album deal with Universal.

The first album, due early next year, “will be nothing like Elvis, nothing like him at all,” according to the prodigal grandson himself. He would, of course, be approximately the 9 millionth musical offspring to follow in his parents’ path, though the three-generation spread does put him in a more rarified group (what up, Williams family). UPDATE as of 10/8: Peter LoFrumento, Executive Vice President of Universal Music Group, told PEOPLE Wednesday, “This story is totally untrue.”

Buckleys (Tim and Jeff), Cyruses (Billy Ray, Miley, Trace) and assorted Philips aside, what do you think of the latest crop of born-with-a-silver-guitar-pick-in-their mouths hopefuls? Whose talent do you think best stands on its own? And who deserves to get sent to the back of the nepotism bread line?

There’s Harper Simon (son of Paul), whose self-titled debut won’t get you calling him Al, but his melodic alt-twang noodles are surprisingly well-wrought. And recent Britney tour opener Kristinia Debarge’s Billboard-ready pop bounce seems to be doing dad James proud.

I’m intrigued by Coco Sumner, who not only looks (that lip curl!) and sounds freakishly like dad Sting circa his less tantric, fields-of-goldy Police days, her original stuff as I Blame Coco is pretty decent.

Watch her covering the Specials’ ska anthem “A Message to You Rudy,” below:

More from EW’s Music Mix:

Album sales in 2009: How hard is it to go platinum today?

Vampire Weekend give away new song ‘Horchata’ as free download

Lady Gaga: If not Kanye West, then who should she tour with?

Black Eyed Peas: Watch your back, Mariah

Thom Yorke’s new band debuts songs at first L.A. gigs

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