A Thai company owned by a local reality-TV star and transgender activist has bought the Miss Universe Organization from Endeavor’s IMG division for $20 million, JKN Global Media announced Wednesday.
Chakrapong “Anne” Chakrajutathib, a prominent Thai businessperson and TV personality who co-founded the nonprofit Life Inspired For Transsexual Foundation, becomes the first woman to own the pageant — which IMG acquired in 2015 from Donald Trump.
Amy Emmerich and Paula Shugart will continue with the organization as CEO and president of the pageant, which is considered the most-watched female focused event in the world, broadcasting in 165 countries and maintaining 23 million social media followers worldwide.
Trump sold the pageant company in September 2015 amid a dispute with NBC, air the Miss Universe and Miss USA pageants after the then-candidate referred to Mexican immigrants as “rapists” during his Presidential campaign announcement speech in June of that year.
“We are proud of our team’s success growing and expanding the Miss Universe Organization by utilizing the power of the Endeavor network, drawing on expertise across talent, digital, content, partnerships and licensing,” Endeavor president Mark Shapiro said in a statement. “We’re equally proud of the progress the organization has made in becoming a more inclusive and powerful platform where women can advance both their business objectives and their cause-based work.”
MUO CEO Emmerich added, “We look forward to this next chapter in the Miss Universe story. In the short time I’ve been with the organization, I’ve seen firsthand the passion of our employees, franchisees, and partners, as well as our incredible community. Paula and I see tremendous opportunity with JKN to create further growth for this organization on the global stage and women around the world. Despite having recently celebrated the organization’s legacy of more than 70 years, we are just getting started.”
The Raine Group acted as exclusive financial adviser to IMG on the transaction. Latham & Watkins LLP acted as legal advisor to IMG.
“We are incredibly honored to be acquiring The Miss Universe Organization and working with its visionary leadership team,” JKN Global CEO Anne Jakapong Jakrajutatip said in a statement. “The global reach of the Organization, its relationships with global partners and brands, and its wealth of content, licensing, and merchandising opportunities make this a strong, strategic addition to our portfolio. We seek not only to continue its legacy of providing a platform to passionate individuals from diverse backgrounds, cultures, and traditions, but also to evolve the brand for the next generation.”
