Apparently Elvis's first release in the UK is about to become unprotected by copyright, and hence become public domain (in 2005). The "music industry" is upset, saying it'll impact their income from this and other such tracks that will become unprotected.
Once again, we see stupidity from the music industry. First up, if you don't like the terms, don't operate here. You released these tracks, and you've had 50 years to make money from them. If you don't think that's long enough, then you shouldn't have released them here. The US system is excessive - the EU's doing okay, and should refuse to simply do what ever the US does (after all, the US is generally lead by the richest, stupidest people, rather than the smart ones).
Secondly, this might encourage a bunch of remixes, samples and such like (all of which pay no royalties). However, those new tracks have to be released somehow, so may just require a record company to do that for them. It'll be a novelty, and get some hype, which might mean people buy the original as well. With 'the right management', this could actually grow the industry rather than leave it as it is.
As always, the music industry would be better off looking for new ways to build their business, rather than trying to protect their old, stale, inhibited and out-moded ways of working.